Great success for the new perpetual bond of Unicredit. The bank led by Jean Pierre Mustier has placed an Additional Tier 1 bond with first repayment due in June 2027 for 1,25 billion euros. Demand broke through the 9 billion euro mark, which led to a lower yield offered to investors to 3,875% against 4,625% of the initial price indications and 4,125% revised at mid-morning. The bonds will be priced during the day.
As traditionally envisaged for securities of this type, the transaction also establishes a temporary system for devaluing the bond, which would be triggered in the event that Unicredit's Cet1 ratio falls below 5,125%.
Joint bookruners of the auction are: Bnp Paribas, Citi, Cs, Deutsche Bank, Gsi, Santander and UniCredit.
Passing from bonds to shares, Unicredit shares gained 1,1% on Piazza Affari to 14,33 euros in the wake of the good performance of the entire banking sector. Indeed, in the middle of the day, the Ftse Italia Banche rose by 1,4% above 10 points.
