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Allen & Overy advises UniCredit on new Senior Non-Preferred dematerialised bond

Published Date
Jan 29, 2024
Allen & Overy has advised UniCredit S.p.A. on a Senior Non-Preferred fix-to-floater bond for a nominal value of EUR1 billion intended for institutional invertors, with maturity of seven years (23rd January 2031) and call option exercisable after six years.

The bond pays a fixed annual coupon of 4.30% until 23rd January 2031. From that date, if an early call has not occurred, the coupon will pay quarterly interest equal to 3-months Euribor with a 1.80% increase.

The bond, documented under UniCredit’s Euro Medium Term programme, is dematerialised and has been centralised with Euronext Securities Milan (Monte Titoli) and listed on the Luxembourg Stock Exchange.

The Allen & Overy’s team advising UniCredit was led by partners Cristiano Tommasi and Craig Byrne, supported by associates Elisabetta Rapisarda and Marco Mazzurco. Counsel Elia Ferdinando Clarizia advised on tax aspects.

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This content was originally published by Allen & Overy before the A&O Shearman merger

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About the
authors

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Cristiano Tommasi

Partner

Rome

He is co-head of the Italian ICM team and has extensive experience of public and private debt and equity issues, including transacti...

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Craig Byrne

Partner

Milan

He has acted as counsel to lenders, sponsors, investors, investment banks and issuers in connection with a variety of transaction ty...

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Elisabetta Rapisarda

Senior Associate

Rome

She also assists clients on the establishment and maintenance of commercial paper programmes as well as hybrid capital transactions ...

Marco Mazzurco

Marco Mazzurco

Associate

Rome

He assists major domestic and international corporations and financial institutions in relation to capital markets transactions, in par...
Elia Ferdinando Clarizia

Elia Ferdinando Clarizia

Counsel

Milan

He focuses on banking and capital markets transactions, including syndicated loans, acquisition finance, real estate finance, projec...