Skip to:
  1. Home
  2. Press & Media
  3. Press Releases
  4. 2006
  5. UniCredit launches a multi-tranche Upper Tier 2 issue
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.

UniCredit launches a multi-tranche Upper Tier 2 issue

UniCredito Italiano launched today a multi-tranche "Upper Tier 2" subordinated issue for a total amount of approx. Euro 1,55 bn equivalent. The transaction is made of 2 different tranches: a Euro denominated tranche of 900 mln and a GBP denominated tranche of 450 mln.

Both tranches, offering a fixed rate and with a 10 year maturity, have been strongly requested by investors, exploiting a favorable window-opportunity for this kind of instrument.

Joint bookrunners for the Euro denominated bond (3.95% coupon and 99,627% issue/reoffer price) were JP Morgan, Citigroup and UBM with HVB acting as "Senior Co-lead"; the geographic allocation of underwriters (mainly Asset Managers and Insurance Companies) has been as follows: France 18%; UK 17%; Italy 16%; Germany 10%; Benelux 13%.

Joint bookrunners for the GBP denominated bond (5% coupon and 99,803% issue/reoffer price) were ABN AMRO, Merrill Lynch and UBM with Bank of America as "Senior Co-lead"; the bond was mainly placed among Institutional Investors (Asset Managers) in UK.

Both issues will settle on February 1st 2006, will be listed on the Luxemburg Stock Exchange; expected ratings are "A2" from Moody's, "A-" from Standard & Poor's and "A" from Fitch.


Enquiries:

Media Relations:
+39 02 88628236; e-mail: Uci.Ufficiostampa@unicredit.it
Investor Relations:
+39 02 88628715; e-mail: UCI-InvestorRelations@unicredit.it