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Natixis acted as Joint Lead Manager in the Senior Preferred benchmark € 1.25bn bond issue, 6 year maturity with optional redemption date after 5 years, for UniCredit Spa. This is the first callable Senior Preferred benchmark launched by an European bank.

The choice of the “6 year non call 5” format allowed UniCredit Spa to benefit from full MREL (Minimum Requirement for our fund and Eligible Liabilities) inclusion during the lifespan of the bond until the call date.

The strong overbook (4.3bn) confirmed that the notes were exceptionally welcomed by 300 european investors.

With this innovative issue, Natixis is pleased to allow UniCredit Spa to fulfill its MREL senior preferred allowance.


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