Chicago, Sept. 5 – Unicaja Banco SA (Baa3//BBB-) priced €300 million of 6½% green non-preferred senior notes with a five-year tenor (//BB+), according to a market source.
The notes priced Monday at 99.843 to yield 6.546%, or at mid-swaps plus 325 basis points. Initial price talk had the notes coming in the mid-swaps plus 350 bps area.
The coupon will reset on Sept. 11, 2027 to the one-year mid-swap rate plus 325 bps.
On the reset date, the issuer has a one-time call option at par plus accrued interest.
BBVA handled billing and delivery. BNP Paribas was the duration manager. Citigroup and Nomura were joint lead managers with BBVA and BNP.
The size was set before pricing.
The final book was in excess of €1.35 billion.
The savings bank is based in Malaga, Spain.
| Issuer: | Unicaja Banco SA
|
| Amount: | €300 million
|
| Issue: | Green non-preferred senior notes
|
| Maturity: | Sept. 11, 2028
|
| Bookrunners: | BBVA (billing and delivery), BNP Paribas, Citigroup and Nomura
|
| Coupon: | 6½% initial rate; resets to mid-swaps plus 325 bps on Sept. 11, 2027
|
| Price: | 99.843
|
| Yield: | 6 546%
|
| Spread: | Mid-swaps plus 325 bps
|
| Call features: | Par call on Sept. 11, 2027
|
| Trade date: | Sept. 4
|
| Settlement date: | Sept. 11
|
| Ratings: | Fitch: BB+
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 350 bps area
|
| ISIN: | ES0380907073
|
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