UniCredit (rated Baa2/BBB+/BBB+) has today issued a new senior benchmark with a maturity of 2 year and 8 months and a size of Euro 1 billion. Coupon has been set at 150 bps over 3 month Euribor with an issue/re-offer price of 99.947%.
UniCredit Corporate & Investment Banking, Bank of America Merrill Lynch, HSBC and Morgan Stanley have managed the placement acting as joint bookrunners.
The transaction has involved more than 150 institutional investors with total orders of approximately Euro 1.4 billion. The allocation by investor types / regions is the following: asset managers (47%), banks (40%), insurance and pension funds (10%); France (30%), Germany/Austria (22.5%), Italy (18%) , Spain/Portugal (8%), UK (7%).
The bonds form part of the UniCredit's outstanding benchmark curve and are documented under the Euro Medium Term Notes Program. Listing will be on the Luxembourg Stock Exchange.
Milan, 16 May 2013