2023 Financial Calendar
20 January 2023
Here below the updated UniCredit's financial calendar for 2023.
UniCredit Named Top Employer Europe for 2023
18 January 2023
The 2023 Top Employers have been announced and UniCredit has been recognised as a Top Employer in Austria, Bulgaria, Germany, Hungary, Italy and Serbia.
Being certified as a Top Employer showcases an organisation’s dedication to a better world of work and exhibits this through excellent HR policies and people practices.
Italian supplies and equipment in 3 new hospitals in Angola with the support of UniCredit, SACE and SIMEST
13 January 2023
Three hospitals with a total of 400 beds will be built in Cabinda, Luena and Huambo thanks to a UniCredit loan of € 222 million for the Republic of Angola Ministry of Finance, guaranteed by SACE with SIMEST interest rate support.
The initiatives are significant for the Italian economy as well as representing the first projects that will be implemented by Vamed Health Projects Italy, an Italian company active in design, construction, supply of systems and medical equipment for turnkey hospital projects, involving Italian sub-suppliers for most of the project.
Over the last year, SACE has organized 2 business matching initiatives with Vamed Health Projects Italy, involving approximately 60 Italian businesses and facilitating 35 B2B meetings between the counterparty and producers of medical equipment but also training of staff and commissioning and start-up of the facilities to increase the order’s Italian content.
CEE economies prove more resilient than expected
11 January 2023
UniCredit economists expect a recovery in the CEE region after a winter of an atypical recession due to falling purchasing power and foreign demand, tighter financial conditions, and lower fiscal spending “A rebound is likely from 2H23 onwards if the eurozone economy recovers as well. In the first half of 2023 there will be a shallow and, hopefully, short recession. Consumers are pessimistic, but in good financial position. Industry orders are resilient and there is a good pipeline for more foreign investment in the region”, commented Dan Bucsa, Chief Economist for Central and Eastern Europe during the workshop “CEE: Weathering economic and geopolitical shocks” at the The Euromoney CEE Forum 2023, held in Vienna, Austria.
“We expect the economies in EU-CEE1 to grow by around 0.5% in 2023 and 3.3% in 2024, slowing from 4.4% in 2022. The Western Balkans might trail the EU-CEE recovery, as it has less access to market and EU funding,” said Dan Bucsa.
The economists forecast inflation to peak in 1Q23 in both EU-CEE and the Western Balkans. Thereafter, fiscal transfers, tight labor-market conditions and higher energy and food prices could keep inflation outside target ranges in 2023-24.
CEE economies more resilient than feared
CEE economies have proven more resilient than had been feared at the start of the Russia-Ukraine war. While consumers turned markedly more pessimistic when the conflict began, their spending habits changed only gradually. Expecting higher prices and interest rates, households frontloaded spending and borrowing in 1H22 and many exhausted the precautionary savings they amassed in 2020-21. The exceptions are clustered in countries where energy prices rose at a slower pace owing to administrative caps and/or where wage growth tracked inflation (Croatia, Czechia, Hungary, Serbia, Slovenia). Despite the economic slowdown in Europe, orders and economic activity remained resilient in 4Q22, while vacancies fell little from all-time highs in sectors with high employment, such as electronics, machinery and automotive. Companies in construction and services from retail to IT reported labor shortages, despite expectations that business would slow over the winter.
For the full version of Q1 2023 CEE Quarterly “Weathering geopolitical and economic shocks”: Document
Vienna, January 11, 2023
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1 (BG, CZ, HR, HU, PL, RO, SK, SI)
UniCredit successfully issues Senior Preferred Notes for EUR 1 billion
10 January 2023
Today, UniCredit S.p.A. (issuer rating Baa1/BBB/BBB) has successfully issued a fix-to-floater Senior Preferred Bond for EUR 1 billion with 6 years maturity and a call after year 5, targeted to institutional investors.
The issuance follows a book building process that gathered strong demand of more than EUR 2.85bn from more than 200 institutional investors globally. The initial guidance of 220bps over the 5-year mid swap rate has been consequently revised downwards and set at 190bps, resulting in a fixed coupon of 4.80% paid annually, with an issue/re-offer price of 99.813%.
The bond will have a one-time issuer call at year 5, as to maximize regulatory efficiency. Should the issuer not call the bond after 5 years, the coupons for the subsequent periods until maturity will reset to a floating rate equal to 3-months Euribor plus the initial spread of 190 bps.
The final allocation has been mainly in favor of funds (62%), banks & private banks (16%), insurances 12%, official institutions & central banks 6%, with the following geographical distribution: Italy 26%, France 25%, UK 15%, Germany/Austria 13%, Benelux 7%, Nordics 7% and Iberia 5%.
The amount issued is part of the 2023 Funding Plan and confirms once again UniCredit’s ability to access the market in different formats.
UniCredit Bank AG acted as Sole Book Runner and Lead Manager. BNP, Mediobanca, Natwest and Santander acted as Joint Lead Managers (no books).
The bond, documented under the issuer’s Euro Medium Term Notes Program, will rank pari passu with the outstanding Senior Preferred debt. The expected ratings are as follows: Baa1 (Moody’s)/ BBB (S&P)/ BBB (Fitch).
Listing will be on the Luxembourg Stock Exchange.
Milan, 10 January 2023
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