Allen & Overy has advised UniCredit S.p.A. on its new EUR1 billion bond with six years’ maturity (16 February 2029), intended for institutional investors.
The bond is senior non-preferred fix-to-floater with a fixed annual coupon set at 4.45% until the optional redemption date (16 February 2028). After that date, should the issuer not call the bond, the coupons for the subsequent periods until maturity will reset to a floating rate equal to three-months Euribor, increased at a margin of 1.60%.
The bond is documented under UniCredit S.p.A.’s EUR60 billion Euro Medium Term Notes Program (EMTN) and it was admitted to listing on the regulated market of the Luxembourg Stock Exchange.
Partners Cristiano Tommasi and Craig Byrne, co-heads of the Italian International Capital Markets practice, led the A&O team advising UniCredit, which also comprised associate Elisabetta Rapisarda and trainee Marco Mazzurco, with counsel Elia Ferdinando Clarizia advising on tax aspects.
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