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UniCredit issues 7 years bond senior for EUR 1.25 billion

UniCredit (rated Baa2/BBB/BBB+) has issued today a new senior benchmark with a maturity of 7 years and a size of Euro 1.25 billion. Following a book building process the coupon has been set at 3.25% with an issue/re-offer price of 99.428%, resulting in a yield to maturity equal to 170 basis points over the swap rate of equivalent maturity, down from the initial pricing guidance set at 180 bps.

UniCredit Bank AG, Bank of America Merrill Lynch, Hsbc and Nomura have managed the placement acting as joint bookrunners.


The transaction has experienced a strong interest involving almost 300 institutional investors with total orders in excess of Euro 3 billion. The bond was distributed to different institutional investors' categories such as funds (77%), banks (13%) and insurance companies (8%). The demand was driven by a wide geographical diversification, with UK/Ireland (25%) and France (24%) being the major contributors, together with Italy (17%), Germany/Austria (14%) and BeNeLux (6%).


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, 7th January 2014