Skip to:
  1. Home
  2. Press & Media
  3. Press Releases - Price sensitive
  4. 2024
  5. january
  6. UniCredit successfully issues EUR 1 billion Senior Non-Preferred Notes
Share this event on:
  • LinkedIn

Recomend this page

Thank you, we sent your recommendation to the desired recipient.

Sorry, this functionality is not available right now.
Please try with this link. Thank you.


Recipient (e-mail address):

UniCredit successfully issues EUR 1 billion Senior Non-Preferred Notes


Today, UniCredit S.p.A. (issuer rating Baa1/BBB/BBB) has successfully issued a fix-to-floater Senior Non-Preferred Bond for EUR 1 billion with 7 years maturity and a call after year 6, targeted to institutional investors.


The book building process gathered strong demand of more than EUR 2.4bn from approximately 200 institutional investors globally. The initial price/spread guidance of 210bps over the 6-year mid swap rate has been consequently revised downwards and set at 180bps, resulting in a fixed coupon of 4.30% paid annually, with an issue/re-offer price of 99.751%.


The bond will have a one-time issuer call at year 6, as to maximize regulatory efficiency. Should the issuer not call the bond after 6 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 180bps, paid quarterly.


The final allocation has been mainly in favor of funds (73%), with the following geographical distribution: Italy (25%), UK (17%), Germany/Austria (15%), France (13%) and Iberia (12%).


The amount issued is part of the 2024 Funding Plan and confirms once again UniCredit's ability to access the market in different formats.


UniCredit Bank GmbH acted as Global Coordinator and as Joint Bookrunner together with BofA, CA-CIB, HSBC, ING, Intesa Sanpaolo and JPM.


The bond, documented under the issuer's Euro Medium Term Notes Program, will rank pari passu with the outstanding Senior Non-Preferred debt of the issuer. The expected ratings are as follows: Baa3 (Moody's)/ BBB- (S&P)/ BBB- (Fitch).


Listing will be on the Luxembourg Stock Exchange.




Milan, 16 January 2024


Media Relations e-mail:
Investor Relations e-mail: