Unicaja Banco places €500 million of perpetual debt (AT1) at 4.875%, oversubscribed by more than five times

This transaction also contributes to reinforce the institution’s solid and comfortable solvency position

10 NOV 2021

1 Min reading

Unicaja Banco has placed today an issue, aimed at institutional investors, of perpetual preferred securities (Additional Tier 1- AT1) for an amount of €500 million, with a demand exceeded by more than five times, at a rate of 4.875%.

 

The strong demand from investors has made it possible to reduce the cost of securities by more than 30 bps, down to 4.875%, as the investor base showed great interest, with a strong demand reached in four hours and exceeding €2,600 million. Orders were received from more than 250 investors, both international and domestic. This is an issue of perpetual preferred securities, with the possibility of early redemption.

 

This transaction also contributes to reinforce the institution’s solid and comfortable solvency position.

 

Barclays has collaborated in the transaction as global coordinator, and the banks BBVA, Credit Suisse and Deutsche Bank, as managers for the placing. These securities are expected to be listed on the fixed income AIAF market.

  • Institucional

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