UNICREDIT S.P.A. (10/2019) Press Release: UniCredit issues a 10 year

Analizy i Rynek / Informacje z rynku / Komunikaty

UNICREDIT S.P.A. (10/2019) Press Release: UniCredit issues a 10 year subordinated Tier 2 bond for an amount of EUR 1 billion

13.02. Warszawa (PAP/ESPI) - Raport bieżący z plikiem 10/2019

Podstawa prawna: Inne uregulowania

UniCredit (issuer rating Baa1/BBB/BBB) today launched a Tier 2 subordinated benchmark

bond with a 10 year maturity and callable after 5 years. The amount issued is equal to EUR

1 billion.

The bond pays a fixed coupon of 4.875% in the first 5 years and has an issue price of 100%,

equivalent to a spread of 473.9 bps over the 5 year swap rate. In case the issuer does not

call the bonds after 5 years, the coupon for the subsequent period until maturity will be reset

on the basis of the 5 year swap rate at the end of the fifth year, increased by the initial

spread.

Given the positive market feedback and the sizable order book, the guidance set initially in

the 5.125% area was tightened by 25bps, implying a negligible new issue premium. This

serves to once again reaffirm UniCredit's very solid fixed income investor base and its ability

to access the market in a variety of ways.

The transaction saw strong demand from almost 200 institutional investors, mainly funds

with 75% of the final allocation, and had an order-book of around 2 billion, which originated

mainly from: France (40%), Italy (28%), UK and Ireland (11%), followed by Germany and

Austria (8%).

The placement was managed by BNP Paribas, HSBC, Mediobanca, Morgan Stanley,

Santander and UniCredit Bank AG acting as joint bookrunners.

The bonds are documented under the issuer's Euro Medium Term Notes Program. In light of

the subordinated status, the expected ratings are as follows: Ba1 (Moody's) / BB+ (S&P) /

BBB- (Fitch). The amount issued is part of the 2019 Funding Plan and will be counted as

UniCredit's Tier 2 regulatory capital, contributing to the Bank's Total Capital Ratio. The bond

will be listed on the Luxembourg Stock Exchange.

Milan, February 13, 2019

Contacts:

Media Relations Tel. +39 02 88623569; e-mail: MediaRelations@unicredit.eu

Investor Relations Tel. + 39 02 88621028; e-mail: InvestorRelations@unicredit.eu

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