Chicago, Nov. 7 – UniCredit SpA priced €750 million of 4.6% green senior preferred notes due 2030 (Baa1/BBB/BBB) on Tuesday, according to a market source.
The notes priced at 99.887 to yield 4.629%, or at mid-swaps plus 150 basis points.
The coupon will reset if the notes are not called on Feb. 14, 2029 to Euribor plus 150 bps. Initial price talk was in the mid-swaps plus 180 bps area.
UniCredit Bank AG handled billing and delivery and was the sole bookrunner.
The joint lead managers were Barclays, BofA Securities, BNP Paribas, IMI-Intesa Sanpaolo, ING, Santander, UBS Investment Bank and also UniCredit Bank AG.
Orders were over €1.15 billion based on the final terms.
Proceeds will be used to finance or refinance eligible green projects.
UniCredit is a banking and financial services company based in Milan.
| Issuer: | UniCredit SpA
|
| Amount: | €750 million
|
| Issue: | Green senior preferred notes
|
| Maturity: | Feb. 14, 2030
|
| Bookrunner: | UniCredit Bank AG (billing and delivery)
|
| Joint lead managers: | Barclays, BofA Securities, BNP Paribas, IMI-Intesa Sanpaolo, ING, Santander, UBS Investment Bank and UniCredit Bank AG
|
| Coupon: | 4.6% initial rate, resets to Euribor plus 150 bps if not called on Feb. 14, 2029
|
| Price: | 99.887
|
| Yield: | 4.629%
|
| Spread: | Mid-swaps plus 150 bps, or Bunds plus 208.3 bps
|
| Call features: | Feb. 14, 2029
|
| Trade date: | Nov. 7
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| Settlement date: | Nov. 14
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB
|
| Fitch: BBB
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 180 bps area
|
| ISIN: | IT0005570988
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