News

A&O Shearman advises on first Tier 2 dematerialised bond by UnipolSai

Published Date
May 23 2024
A&O Shearman has advised the financial institutions acting as Joint Lead Managers on the placement of a EUR750 million Tier 2 bond issued by UnipolSai Assicurazioni S.p.A. with 10-years maturity (23 May 2034). The bond was issued in dematerialised form and held through Euronext Securities (formerly Monte Titoli).

This operation represents the first bond issuance under an EMTN programme in dematerialised form by an insurance company.

The bond has a fixed rate coupon of 4.9% and was admitted to listing on Luxembourg Stock Exchange. 

The A&O Shearman team acting for the Joint Lead managers - BNP Paribas, Goldman Sachs International, IMI Intesa Sanpaolo, J.P. Morgan SE and Mediobanca – Banca di Credito Finanziario S.p.A. – was led by partners Cristiano Tommasi and Craig Byrne, with counsel Alessandra Pala, supported by associate Alessandro Negri. Counsel Elia Ferdinando Clarizia advised on tax-related aspects. 

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