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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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