UniCredit issues 4.5-year and 8-year bonds with total value of EUR 2 bln
Italy-originated banking group UniCredit has issued in two tranches 4.5-year (redeemable after 3.5 years) and 8-year (redeemable after 7 years) bonds with a total value of EUR 2 billion, said the Italian bank listed on the Warsaw Stock Exchange.
The issuance follows a book-building process that raised total demand of around EUR 5.6 billion, with more than 290 orders from institutional investors.
The coupon of the 4.5-year bond was set at 3.3 percent per annum and the issue price is 99.877 percent.
The coupon of the 8-year bond was set at 3.8 percent per annum and the issue price is 99.710 percent.
Final allocation of the 8-year bond (8NC7): 70 percent of the offered bonds will go to mutual funds, 10 percent to banks, 39 percent of the offering will be taken up by investors from France, 22 percent from the UK, 14 percent from Germany/Austria and 6 percent from Iberia.
Final allocation of 4.5-year bonds (4.5NC3.5): 67 percent of the bonds on offer will go to investment funds, 18 percent to central banks, 27 percent of the offering will go to investors from France, 21 percent from the UK, 11 per cent from Iberia and Benelux.
Expected ratings for the issue are Baa3 (Moody's rating) and BBB- (S&P)/ BBB (Fitch).
The bonds will be listed on the Luxembourg Stock Exchange.
gaw/ nl/