FILE PHOTO: Unicredit logo is seen in this illustration taken December 3, 2025. REUTERS/Dado Ruvic/Illustration.
The issues attracted demand worth more than $20bln from over 200 investors globally
Enrico Sciacovelli | Reuters News
MILAN – UniCredit said on Friday it had tapped the U.S. debt market for the first time since 2021 with senior non-preferred multi-tranche notes worth $3.5 billion overall.
The issues attracted demand worth more than $20 billion from over 200 investors globally, Italy’s second-biggest lender said, adding the sale counted as pre-funding for 2027.
* All tranches were priced at par
* The issues have maturities of four, six and eleven years, respectively, and non callable for the first three, five and 10 years
* Coupons reset if they are not called after that
* The four-year bond is worth $1.5 billion and pays a 5.97% annual coupon for the first three years
* The $1 billion, six-year bond pays a yearly coupon of 6.201% for the initial five years
* The 11-year bond is worth $1 billion and pays a coupon of 6.585% annually for 10 years
* UniCredit said 65% of the demand came from North America
* The notes are expected to be rated Baa2 by Moody’s, BBB by S&P and BBB+ by Fitch
* Citigroup, JP Morgan and UniCredit acted as global coordinators
* Barclays, BofA Securities, Goldman Sachs International, HSBC, Morgan Stanley, RBC Capital Markets and Wells Fargo Securities acted as joint bookrunners
(Reporting by Enrico Sciacovelli, editing by Valentina Za)
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here
© ZAWYA 2026