UnipolSai successfully places Tier 2 instrument in dematerialized form

UnipolSai successfully places Tier 2 instrument in dematerialized form

(Finance) – UnipolSai Insurance completed today placement with Italian and foreign institutional investors of one so-called “Tier 2” level 2 instrument to be issued in dematerialized form and to be centralized at Euronext Securities (formerly Monte Titoli), in Euro and at a fixed rate for a nominal amount equal to 750 million of Euro.

The issue and settlement date of Tier 2 is scheduled for May 23, 2024 and Tier 2 is issued at 99.853% and corresponds to one fixed coupon on a yearly basis by 4.9%.

The issue sparked a strong interest from investors, confirming the solid reputation that UnipolSai and the Unipol Group enjoy on international markets. During the placement they were collected orders exceeding 1.65 billion of Euros, with a book coverage of approximately 2.2 times.

Tier 2 was approximately 80% placed at foreign institutional investors. The expected Tier 2 rating is Ba1 by Moody’s and BBB- by Fitch. The securities will be listed on the regulated market of the Luxembourg Stock Exchange.

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