Mediobanca as Joint Bookrunner in the new issue for Unipol Gruppo

Unipol Gruppo new € 750m Inaugural Senior Green Bond 10y.

Following an intense two-day virtual roadshow with ca. 40 investors involved, and given the supportive market conditions, on 16th September 2020 Unipol Gruppo (holding company of the 1st P&C insurance group in Italy) decided to approach the market with its Inaugural Green Bond (€ 750m 10y Senior Unsecured).

The proceeds of the transaction will be used to finance the new skyscraper the Issuer is building in Milan and some green investment funds.

Market reception was very strong, leading to a final book in excess of € 3bn with orders from 270 different accounts. Thanks to the solid orderbook, the issuer was able to land to a final price of MS+350bps, with a massive 40bps tightening from IPTs.

On September 14th, in conjunction with the new issue, Unipol Gruppo also announced an “any-and-all” tender offer on its outstanding UNIIM 4.375% 03/2021. The tender period will expire on 18th September.

The outstanding result of the transaction is a strong testament to the ability of Mediobanca to provide innovative services to its clients in a very fast and flexible manner with the entire process taking just two months from start to end.

The new issue represents the 5th Unipol bond awarded to Mediobanca since 2014, as well as the 39th transaction (the 8th Green / ESG) executed by the DCM team in 2020 (the 13th since July).

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