Unipol Banca launches Dutch auction tender for asset-backed floaters

By Jennifer Chiou

New York, Oct. 4 - Unipol Banca SpA announced the start of an unmodified Dutch auction tender offer for three series of asset-backed floating-rate notes issued by Atlante Finance Srl.

The following securities are affected:

• €218,976,934 of outstanding class A floaters due 2047 with a minimum purchase price of 90% of the original principal amount;

• €28.8 million of outstanding class B floaters due 2047 with a minimum purchase price of 70% of the original principal amount; and

• €136.8 million of outstanding class C floaters due 2047 with a minimum purchase price of 50% of the original principal amount.

The original principal amount is €1,202,500,000 for the class A notes, €28.8 million for the class B notes and €136.8 million for the class C notes. The "free float" outstanding amount as of Oct. 4 is €165,439,122 for the class A securities, €28.8 million for the class B notes and €45.8 million for the class C notes.

The pool factor is 1 for the class B and C notes, and it is 0.1821014 for the class A notes.

Participating noteholders have to tender their notes by 11 a.m. ET on Oct. 18.

The company will pay accrued interest in addition to the purchase price.

Settlement is slated for Oct. 23.

The dealer manager is J.P. Morgan Securities plc (emea_lm@jpmorgan.com or 44 20 7777 3548). The tender agent is Lucid Issuer Services Ltd. (attn: David Shilson/Paul Kamminga at 44 20 7704 0880 or unipol@lucid-is.com).

The issuer is based in Milan.

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