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Allen & Overy advises on new directly listed retail callable bond by UniCredit

UniCredit S.p.A. announced the launch of its second direct listing bond, offered by the Bank on the MOT market and Euro TLX of Borsa Italiana. Allen & Overy advised UniCredit on the transaction.

The bond, which has a 13-year maturity (until 14 November 2036), is of the “callable” type, as it can be repaid in advance by the Issuer on an annual basis starting from November 2024 until November 2035. The bond will pay a fixed annual coupon of 6.3%, which can be paid in a lump sum on the early repayment date (provided the Issuer exercises the call option) or upon maturity.

A&O’s team was led by counsel Emiliano La Sala and partner Cristiano Tommasi, assisted by associate Elisabetta Rapisarda and consultant Stefania Occhipinti.