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UniCredit joins multi-dealer platform, SPIRE

UniCredit joins multi-dealer platform, SPIRE


Single Platform Investment Repackaging Entity SA ("SPIRE") is pleased to announce the admission of UniCredit Bank AG ("UniCredit") to its multi-dealer programme, bringing the number of dealers on the platform to sixteen and further increasing choice for investors in the repackaging market.


The SPIRE programme allows for repackaged notes arranged by the platform's dealer-members to be issued in standardised formats. Investors can gain exposure to the returns of a variety of underlying collateral assets and customisable payoffs. The platform aims to bring transparency, liquidity and simplicity to the market for repackaged securities. To date, in excess of EUR38bn-equivalent has been issued to major UK, European and Asian institutional investors since the programme was launched in May 2017.


Commenting on the announcement, Amit Sharma, UniCredit's Global Head of Markets Structuring & Solutions, said: "UniCredit is a relevant provider in the secured notes space and we continue to see increased demand from our clients. Complementary to our existing suite of repackaging solutions, we see the SPIRE platform providing additional choice and benefits that address some of the needs of our institutional client franchise. With our expert teams, we have the know-how and organisational set-up to fully integrate the platform into our international client offer."


Guido Filippa, Global Head of Institutional Distribution and Private Investor Products at UniCredit, added: "We are continuously adapting and upgrading our product platform in line with the evolving needs and preferences of institutional investors, particularly those in the European pension and insurance sector. In joining the SPIRE platform, UniCredit will play an active role in enhancing the transparency, liquidity and simplicity of the market for repackaged securities to the ultimate benefit of our clients."


The SPIRE platform was established by BNP Paribas, Citigroup, Credit Suisse and J.P. Morgan in May 2017. Barclays, Goldman Sachs, Crédit Agricole CIB and Morgan Stanley joined in 2018. Natixis, BofA Securities Europe SA, Deutsche Bank, HSBC, Societe Generale SA and NatWest Markets joined in 2019. Nomura joined in 2020.