UniCredit launches its new strategy on art and culture
28 July 2021
The bank stops sale of art and implements new initiatives to make its art collection more accessible to all
UniCredit announces new strategy to leverage and enhance its artistic heritage, particularly in Italy, in line with the overarching commitment to respect and value the Group’s roots.
After the decision to discontinue the Art4Future project, which previously oversaw the sale of some of the Group’s most significant artworks, the bank is now launching new programmes to ensure its collection is fully accessible to all. These include a dedicated digital initiative that will provide virtual access for the wider public to the bank’s art collection as well as educational programmes aimed at children in collaboration with the UniCredit Foundation.
Furthermore, a touring collection will be curated jointly to support the common priorities around young people and education.
Andrea Orcel, CEO of UniCredit, commented: “UniCredit is a pan-European Group with an Italian soul where art and culture are at the heart of this country, and a fundamental part of its history and heritage on which to build our future. That’s why UniCredit is halting any further sales and launching new and innovative initiatives to support art and culture, which have a deep social value and are closely intertwined with the social function that I believe a bank needs to have in all its communities. Our aim will be to make our exceptional collection, more widely accessible to the public allowing us to further engage with our communities and support their development and wellbeing.”
Further information on the bank’s new initiatives focused on art and culture will be announced in due course.
UniCredit will commit to honouring any remaining financial commitments from the Art4Future project as agreed.
Milan 28 July 2021
Notice of early redemption UNICREDIT “€1,000,000,000 NON-CUMULATIVE TEMPORARY WRITE-DOWN DEEPLY SUBORDINATED FIXED RATE RESETTABLE NOTES” (THE “NOTES”) ISIN XS1107890847
28 July 2021
With reference to the Notes, issued on 10 September 2014, UniCredit S.p.A., in accordance with the relevant Terms and Conditions of the Notes, will exercise its option to early redeem in whole the Notes on 10 September 2021 (the First Call Date).
The early redemption of the issue will be at par, together with accrued and unpaid interests. The interests shall cease to accrue on the same First Call Date.
Milan, 28 July, 2021
"Supply Chain Basket Bond": the second tranche is launched of the €200 million programme from CDP and UniCredit for the growth of companies in supply chains that are of strategic importance to the Italian economy
27 July 2021
New issues for €21 million by three film and TV production companies
Four months after the first transaction on the wine industry, Cassa Depositi e Prestiti and UniCredit announce the closing of the second tranche of the 'Supply Chain Basket Bond', the €200 million programme launched to finance the development plans, both in Italy and abroad, of companies belonging to supply chains that are of strategic importance to the Italian economy.
The second issue, finalised today, is entirely dedicated to the Italian cultural sector, with a specific focus on film and television production and distribution.
Three companies have individually issued 7-year fixed-rate minibonds, raising a total of €21 million to finance their investment and development plans in the domestic and international markets.
CDP and UniCredit, acting as anchor investors in the transaction, have also each underwritten 50% of the total amount of these issuances stemming from the programme.
The three internationally recognised Made in Italy issuing companies of excellence, are:
- Iervolino and Lady Bacardi Entertainment S.p.A., a global production company founded by Andrea Iervolino and active in the production of film and television content, including films, TV-shows, web series and more. The company is listed on the AIM market.
- Leone Film Group, a leading independent film and audio-visual production and distribution company in Italy founded by Sergio Leone in 1989. Listed on the AIM market in 2013, the majority shareholders are the director's children, Andrea and Raffaella Leone.
- Lucky Red, a company founded in 1987 by Andrea Occhipinti and Kermit Smith, is one of the most popular independent companies in the audio-visual sector, active in all segments: production and distribution of films and series, cinemas, sales abroad. They recently created Miocinema, a quality digital cinema platform
Andrea Casini, Head of Corporate at UniCredit Italy, said "We are proud to have dedicated this new tranche of the Basket Bond to companies in the cultural production sector, one of the areas of Made in Italy excellence that contributes to determining the identity of our country, also internationally. The innovative transaction signed today is further concrete proof of the dynamism shown in recent years by the main Italian operators in the sector. We are convinced that we have provided companies with an effective tool to gain access to the capital market in an advantageous and streamlined way, opening up sources of financing useful to support their investments".
Paolo Calcagnini, Deputy General Manager of CDP, said "With this transaction, CDP is taking a further step in its efforts to encourage the growth of businesses through specific supply chain programmes in sectors, such as culture, that have always represented Made in Italy products around the world. The use of the Basket Bond instrument confirms CDP's capacity for financial innovation, working together with the banking system to support business development and internationalisation. The results achieved by previous issues demonstrate the strength of the programme and the desire to give more companies access to the capital market".
Andrea Iervolino, Chairman of Iervolino and Lady Bacardi Entertainment SpA said: "By participating in this operation promoted by CDP and UniCredit, our company is recognized as value-creator in the culture sector and as a representative of the Made in Italy industry. We attribute great importance to this initiative, which identifies our business as strategic for the country's economy, and we are happy to be able to collect resources to grow in Italy and abroad".
The Managing Director of Leone Film Group, Raffaella Leone, said “This bond issue is a very interesting way for us to diversify and broaden our sources of financing, and it was carried out with two leading financial Italian institutions as UniCredit and CDP. These funds will be invested in new productions and content acquisition and will facilitate the relaunch after the challenging pandemic period.”
Andrea Occhipinti, founder of Lucky Red said: "The audio-visual sector is experiencing a moment of great expansion, stimulated by the demand for content from streaming platforms and national broadcasters. Lucky Red, which has long been involved in the entire supply chain, has more than tripled its production capacity, both for films and series. We are very happy to have UniCredit and CDP as partners in this growth path: an important support to complete our projects".
Milan, Rome, 27 July 2021
UniCredit Media Relations
e mail: firstname.lastname@example.org
Press release pursuant to Article 70, paragraph 7, lett. a) of Consob Regulation 11971/99 (Regolamento Emittenti)
22 July 2021
The Board of Directors of UniCredit S.p.A. approved in its meeting of 5 May 2021 the common merger plan (progetto commune di fusione) of the cross-border merger by absorption of UniCredit Bank Ireland Public Limited Company ("UniCredit Bank Ireland"), as absorbed company, into UniCredit S.p.A. ("UniCredit"), as absorbing company (the "Cross - Border Merger").
Following the European Central Bank authorization pursuant to Article 57 of the Legislative Decree September 1st 1993 n. 385 (Italian Banking Act), in accordance with Article 70, paragraph 7, letter a) of Consob Regulation 11971/99 (Regolamento Emittenti), the following documents relating to the Cross - Border Merger have been made available to the public today at the registered office of UniCredit:
Common merger plan approved by the Board of Directors of the companies participating in the Cross-Border Merger on 5 May 2021;
report of the board of directors of UniCredit in relation to the Cross - Border Merger (relazione illustrativa) and the report of the board of directors of UniCredit Bank Ireland in relation to the Cross - Border Merger (directors' explanatory report);
balance sheets of the last three years of the companies participating in the Cross-Border Merger.
The documents will be made available to the public during the thirty days period prior to the merger resolution and until the merger resolution is adopted, the shareholders have the right to access the documents and obtain copy of them.
The same documents are available on the internet website of UniCredit - within the section Governance, Corporate transactions - at the following address: https://www.unicreditgroup.eu/en/governance/corporate-transactions/common-merger-plan-of-the-cross-border-merger-by-absorption-of-u.html
as well as on the authorized storage mechanism "eMarket STORAGE" managed by Spafid Connect S.p.A. (www.emarketstorage.com).
The common merger plan has been filed for registration with the Companies' Register held by the Chamber of Commerce of Milan, Monza, Brianza and Lodi and with the Irish Companies' Registration Office where UniCredit and UniCredit Bank Ireland have, respectively, their registered office.
Since UniCredit holds 100% of the share capital of UniCredit Bank Ireland, the Cross - Border Merger will be approved by the Board of Directors of UniCredit, as absorbing company, pursuant to Article 2505, paragraph 2, of the Italian Civil Code and as per the company's by-laws, without prejudice to the right granted to shareholders pursuant to Article 2505, paragraph 3, of the Italian Civil Code.
Therefore, a notice informing the shareholders' of UniCredit of the exercise of their rights pursuant to article 2505, paragraph 3, of the Italian Civil Code will be made available to them.
Milan, 22 July 2021
e mail: email@example.com
e mail: firstname.lastname@example.org
UniCredit Foundation strengthens its support to study and research
16 July 2021
More than 1.2 million euros dedicated to young European talent
The UniCredit Foundation is once again launching several competitions aimed at supporting young European talent through study and research. This includes 8 calls for 32 scholarships and fellowships for a total amount of more than 1.2 million euros.
Maurizio Beretta, Chairman of the UniCredit Foundation, commented: “Despite the current challenging period, which has required great efforts in facing the global pandemic, the UniCredit Foundation continues its commitment to support study and research in the fields of economics and finance with several competitive calls as well as increasing the total number of scholarships available. These calls allow the Foundation to support the most deserving students in furthering their studies abroad by financing relevant PhD courses, Master’s degrees and short stays, as well as to promote research, talent development, and do our part to attract the best brains back to Europe.”
The scholarships and fellowships offered include:
- 3 Marco Fanno and 2 Crivelli Europe scholarships for students in economics or finance who wish to take PhD courses abroad starting from the 2022-2023 academic year. These scholarships are annual and renewable for a second year. The gross annual amount of each scholarship is 32,500 euros.
- 4 Modigliani Research Grants awarded to the best research projects in economics and finance in the gross amount of 10,000 euros per year for two years with the main objective to support research in Europe by strengthening collaboration among universities
- 3 Foscolo Europe Top-Up fellowships offered, for the seventh time, to the three best economics or finance departments, or research institutes in the PhD job market in 2021/2022. The main objective of this call is to attract and retain outstanding young economists across Europe who are conducting their research abroad. The Foundation will pay a gross annual contribution of 50,000 euros to the winning research departments to supplement the remuneration offered to their selected candidate. The fellowship will start on 1 October 2022 and run for three years.
The list of grants also includes the launch of 10 Study Abroad Exchange Programme competitions, this year in its eleventh edition, allowing to spend a study period of three to six months abroad at any university within UniCredit's perimeter. Furthermore, 5 Economics Job Market Best Paper Awards are foreseen for PhD candidates and PhD graduates in economics and finance to attend the European Economics Job Market event in Barcelona in December 2021.
Lastly, also this year, in addition to the 3 Marco Fanno Fellowships worth 45,000 euros gross each, the UniCredit Foundation will launch 2 Saccomanni Scholarships for the 2021 edition of 65,000 euros gross each for a period of two years aimed at supporting European students who intend to specialise in finance, international economics or monetary policy.
For further information, please see the UniCredit Foundation website
UniCredit Media Relations