A&O Shearman advises on new EUR1.25 billion senior non-preferred bond by UniCredit

The bond pays a fixed annual coupon of 3.200% until the optional redemption date (September 22, 2030). After the optional redemption date, if the bond is not called, the bond will be determined quarterly on the basis of the three-month Euribor rate with an increase of 90 basis points.

The bond is documented under UniCredit S.p.A.’s Euro Medium Term Notes program and was admitted to listing on the Luxembourg Stock Exchange.

The A&O Shearman team was led by partner Cristiano Tommasi, supported by counsel Sarah Capella and senior associate Elisabetta Rapisarda, with trainee Antonio Iuliano. Counsel Elia Ferdinando Clarizia advised on tax-related matters.

Cristiano Tommasi, partner, commented: “Our firm has long had the privilege of assisting UniCredit in transactions of this significance, continuing along a path that has helped to consolidate best practices in the international market for bank bonds. Our expertise, combined with a solid track record in the debt capital markets sector, enables us to ensure efficient execution and high standards, to the benefit of the national banking system and our clients’ access to medium- and long-term capital.”