Unicredit launched a non-preferred senior green bond with a five-year term. The amount of the bond is equal to at least 500 million euros.
The characteristics of the new Unicredit green bond
As mentioned, it is a non-preferred senior green bond with deadline set for November 15, 2027 and not redeemable before four years. According to the provisions, Unicredit will apply an equivalent amount to the net proceeds deriving from the bond issue, specifically to finance and/or refinance specific green projects and activities in line with certain eligibility criteria as outlined in the Sustainability Bond Framework document of the bank led by Andrea Orcel.
As for the technical characteristics, the guidance is of 315 basis points above the mid-swap rate. The bond will have a fixed and annual coupon. The rating expected is “Baa3” from Moody's, “Bbb-” from S&P and “Bbb-” from Fitch.
UniCredit Bank acts as sole global coordinator, while Barclays, BNP Paribas, HSBC, Morgan Stanley, Santander, UBS and UniCredit Bank are joint bookrunners.
Buyback: 3,29% of the share capital repurchased
The institute in Piazza Gae Aulenti also provided an update today on the buyback program launched on 21 September. In detail. “As of November 4, 2022, starting from the launch of the second tranche of the 2021 Buy-Back programme, Unicredit has purchased a total of 66.458.918 shares, equal to 3,29% of the share capital for a total value of 732.508.679,24 euros".
