By Rebecca Melvin
New York, Sept. 16 – Unipol Gruppo SpA priced €750 million 3¼% green senior notes due 2030 (Ba2//BB+) at 99.756 for a yield of 3.279%, or spread of 350 basis points over mid-swaps, according to a market source.
The notes have a three-month par call and a clean-up call.
BNP Paribas, Intesa Sanpaolo SpA, J.P. Morgan Securities plc, Mediobanca – Banca di Credito Finanziario SpA and UniCredit Bank AG were the joint lead managers for the new notes, which were issued under the company’s €3 billion medium term note program.
The issue, which will be used to finance or refinance eligible green projects, was launched alongside a tender offer for the company’s €317,352,000 of 4 3/8% notes due March 2021.
Unipol is a Bologna, Italy-based financial services provider.
| Issuer: | Unipol Gruppo SpA
|
| Amount: | €750 million
|
| Maturity: | Sept. 23, 2030
|
| Securities: | Green notes
|
| Joint lead managers: | BNP Paribas, Intesa Sanpaolo SpA, J.P. Morgan Securities plc, Mediobanca – Banca di Credito Finanziario SpA and UniCredit Bank AG
|
| Coupon: | 3¼%
|
| Price: | 99.756
|
| Yield: | 3.279%
|
| Spread: | Mid-swaps plus 350 bps
|
| Calls: | Three-month par call and clean-up call
|
| Trade date: | Sept. 16
|
| Settlement: | Sept. 23
|
| Ratings: | Moody's: Ba2
|
| Fitch: BB+
|
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