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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