UniCredit is apan-European Commercial Bankwith a unique service offering in Italy, Germany, Austria, Central and Eastern Europe. Our purpose is to empower communities to progress, delivering the best-in-class for all stakeholders, unlocking the potential of our clients and our people across Europe.
UniCredit S.p.A announces it has moved the date of the Board of Directors approval of the first quarter 2026 results to 4 May 2026 (instead of 6 May).
The Group results presentation - publication and conference call - will be on 5 May 2026 (instead of 7 May).
The updated financial calendar is available on the group website: https://www.unicreditgroup.eu/en
Milan, 26 March 2026
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Supporting Southern Italy’s Energy Transition: €319 Million Financing Facility for Whysol Renewables from a pool of Financial Institutions
PRESS RELEASE
26 March 2026
The transaction was carried out with the joint support of CDP, BNP Paribas, Crédit Agricole CIB, ING Bank, Intesa Sanpaolo and UniCredit
One of the most innovative transactions in the national energy landscape, distinguished by the unique combination of agrivoltaic infrastructure and next-generation energy storage systems
Rome, Milan, 26 March 2026 – The Whysol Renewables Group, a platform operating in the renewable energy and energy transition sectors, has secured a €319 million green financing facility through its subsidiary Whysol ION Holding. The facility has been provided by leading domestic and international banks and financial institutions.
The pool comprises Cassa Depositi e Prestiti (CDP), acting as original lender, structuring mandated lead arranger and bookrunner, BNP Paribas Italian Branch, Crédit Agricole Corporate & Investment Bank – Milan Branch, ING Bank N.V. – Milan branch, Intesa Sanpaolo –IMI Corporate & Investment Banking Division and UniCredit, acting as original lenders, structuring mandated lead arrangers, global coordinators, hedging banks, green loan coordinators and bookrunners. Intesa Sanpaolo also acted as facility agent, issuing bank and depositary bank.
The financing will enable Whysol ION Holding to support an ambitious growth plan in Southern Italy through the development of two battery energy storage system (BESS) plants and four agrivoltaic plants in Apulia, Sardinia and Campania, with a total capacity of approximately 328 MW.
The financing represents one of the most advanced initiatives in the national energy sector, thanks to the combination of agrivoltaic facilities and next-generation storage systems — a configuration that remains relatively rare in Italy in terms of both scale and structure. These projects will make a significant contribution to increasing renewable energy generation capacity, delivering tangible benefits to local communities and supporting the country’s decarbonisation process.
The transaction, fully compliant with the Green Loan Principles, also includes the arrangement of the guarantees required to access the relevant regulatory frameworks and incentive mechanisms. The agrivoltaic plants will benefit from the FER X and Energy Release 2.0 schemes, managed by the Italian Energy Services Manager (GSE), while the BESS facilities will access the Electricity Storage Capacity Procurement Mechanism (MACSE).
In connection with the transaction, the Company was advised by Legance – Avvocati Associati as drafting counsel and by Arcus Financial Advisors. The banking institutions were supported by BonelliErede as legal advisor, Fichtner Italia as technical consultant, Marsh as insurance advisor and Aurora Energy Research as market advisor. Finally, the financial model audit was carried out by KPMG.
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Moody's confirms UniCredit ratings following the offer on Commerzbank, reiterating potential for stand-alone rating upgrade
PRESS RELEASE
19 March 2026
PRICE SENSITIVE
The rating agency Moody’s has confirmed UniCredit SpA’s Senior Preferred and Long-Term Deposit ratings at ‘A3’, two notches above Italy’s sovereign rating, with a Stable outlook.
Moody's reaffirms that, in the event of UniCredit acquiring Commerzbank, UniCredit's stand-alone rating (Baseline Credit Assessment) could be upgraded from current baa2 to baa1, one notch above Italy's sovereign rating. This would lead to higher ratings on senior non-preferred and more junior debt as well.
For further details please refer to the corresponding press release on the website of the rating agency: www.moodys.com
Milan, 19 March 2026
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UniCredit and ING acted as Global Coordinators for the EUR 375 million financing to support the expansion of Retelit’s national interconnection data center platform
PRESS RELEASE
19 March 2026
Retelit Datacenter is the data center platform of Retelit, the leading Italian Telco and ICT operator focused on the B2B market, owned by Asterion Industrial Partners and offering connectivity, cloud and co-location and interconnection services to telecom operators, enterprises, public administrations and tier-2 hyperscalers.
The transaction is a mini-perm project financing split across several credit lines.
UniCredit and ING have structured a EUR 375 million mini-perm project financing in favor of Retelit Datacenter, the Retelit datacenter hub which is the dominant interconnection platform in Italy counting 38 datacenters including Avalon Campus in Milan.
The loan is intended to support Retelit’s growth plan in order to expand the current 18MW perimeter through the construction of 3 new data centers in Milan and Rome for a total additional capacity of 27 MW. These investments will further reinforce Italy’s position as a strategic Southern European gateway for low‑latency connectivity, cloud adoption and the accelerating uptake of AI‑driven services.
The financing package consists of a €135 million term loan facility, a €225 million Capex investment facility, and a €15 million revolving credit facility. It attracted strong interest from a broad syndicate of lenders, including both leading Italian institutions and major international banks, reflecting confidence in Retelit’s strategy and the resilient fundamentals of the interconnection data center market.
Asterion Industrial Partners, the majority shareholder of Retelit, continues to demonstrate a strong commitment to Italy’s digital transformation. In recent years, Retelit has accelerated investment across the country, including the acquisition of Irideos in 2022, the purchase of British Telecom’s Italian digital domestic infrastructure (11k km of fibre network and a portfolio of DCs with 10 MW total capacity) and the signing of a preliminary agreement for the acquisition of a 30% stake in Sparkle (international services arm of TIM Group, majority-owned by MEF, closing expected by H1 2016).
Through this innovative bespoke project financing, Retelit aims to further accelerate its growth strategy, enlarging its high-value infrastructure targeting strategic targets like Milan, the most interconnected hub in Italy, and Rome, supporting critical digital infrastructure demand coming from government, public sector entities enterprises and global telco, Media and OTT operators.
Retelit is fully committed to energy efficiency and sustainability. Indeed, 100% of the energy used by Retelit data centers comes from renewable sources which significantly reduces GHG emissions, and most of Retelit IT power infrastructure has a PUE (“Power Usage Effectiveness”) lower than the market benchmark.
The transaction was originated, structured and coordinated by UniCredit and ING in their capacity as Structuring Banks, Debt Advisors, Global Coordinators & Bookrunners, leading the syndication effort towards a successful closing. ING Italy also acted as Facility Agent.
Marco Bortoletti, Regional Manager Lombardia at UniCredit, stated: "We are delighted to support Retelit in this significant transaction. The strong response from both domestic and international lenders underscores the quality of the project and the increasing depth of Italy’s digital infrastructure market. Acting as Global Coordinator, UniCredit is proud to have led a transaction that will expand national data‑center capacity and underpin the country’s technological development in the years ahead, thus contributing to the digital transition, paramount to corporates’ competitiveness".
Andrea Diamanti, CEO and Head of Wholesale Banking at ING Italy, stated: "ING has long been recognized as a pioneer in data center financing, with over 200 transactions closed globally. The growth strategy for the Wholesale Banking division in Italy enables us to successfully support companies operating in the Tech, Media and Telecommunications sector across the country, ultimately benefitting Italian’s technological development. ING global network plays a pivotal role in our strategy, as confirmed by this important transaction which involved the collaboration of both Italian and Dutch ING teams.”
TEAM & ADVISORS
DLA Piper Italia supported the Lenders as Legal Advisor, while Retelit has been assisted by Cleary Gottlieb Steen & Hamilton LLP as Legal Advisor for financing documentation.
Milan, 19 March 2026
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Media Relations mediarelations@unicredit.eu
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UniCredit signals openness for dialogue and willingness to build bridges with Commerzbank and key stakeholders
Action taken via launch of voluntary exchange offer to exceed 30% in Commerzbank
No expectation to achieve control
Offer has no downside vis-a-vis aim to trigger constructive engagement and the existing stake continues to be significantly value-accretive
UniCredit today announced the launch of a voluntary exchange offer on Commerzbank in accordance with Section 10 of the German Takeover Act.
The offer is designed to overcome the 30% cliff-edge that exists under German takeover law and foster constructive engagement with Commerzbank and its stakeholders in the coming weeks.
It is expected that UniCredit will achieve a stake in Commerzbank in excess of 30% without reaching control.
This would both remove the need for UniCredit to continuously adjust its stake to remain under the 30% threshold due to the ongoing Commerzbank share buyback programme and an ability to increase its stake freely in the open market or otherwise thereafter.
UniCredit currently holds a direct stake of around 26% in Commerzbank and an additional stake of circa 4% is held via total return swaps.
The offer exchange ratio will be determined by BaFin in the coming days based on the 3m VWAPs of both Commerzbank and UniCredit. We expect this to be 0.485 shares of UniCredit per share of Commerzbank implying a €30.8 price per Commerzbank share, or a 4% premium as of closing on March 13, 2026.
The Offer is expected to be formally launched at the beginning of May with an offer period of 4 weeks. An Extraordinary General Meeting will be called for May to seek authorization for the related capital increase. Subject to the fulfilment or waiver by UniCredit of the conditions to the Offer, settlement is expected to be completed by the first half of 2027 after having obtained all necessary regulatory clearances, as will be further detailed in the offer document.
UniCredit is still seeking shareholder approval for the 2025 share buy back in the amount of €4.75bn at the AGM on March 31 while ECB approval is pending. The SBB will commence after the offer period closes and depend on the final offer take up. There is no impact on our dividend policy.
If as expected UniCredit remains with no control in Commerzbank the financial impact on capital will be negligible.
The Board of UniCredit regards this offer as a sensible, pragmatic measure with no downside given that the existing stake continues to be significantly value accretive irrespective of the offer leading to an increased stake of over 30% or not.
All relevant further information on the Offer will be made available in accordance with applicable law on UniCredit’s website https://www.unicreditgroup.eu/en/investors/unicredit-unlimited-next-phase.html.
The Chief Executive Officer Andrea Orcel will present the strategic rationale in a conference call at 8:30 am CET on March 16, 2026.
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