Allen & Overy acted for UniCredit on new EUR 1 billion bond issuance
Allen & Overy acted for UniCredit on new EUR 1 billion bond issuance
Allen & Overy has given counsel to UniCredit S.p.A. for its recent issuance of a EUR1 billion bond targeted towards institutional investors. The bond has a six-year maturity period ending on 16 February 2029 and is classified as senior non-preferred fix-to-floater.
Until the optional redemption date on February 16, 2028, the bond will have a fixed annual coupon of 4.45 per cent. However, after this date, if the issuer decides not to call the bond, the coupon for subsequent periods until maturity will reset to a floating rate, which will be calculated as three-months Euribor plus a 1.60 per cent margin.
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.
