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Latham Advises UniCredit on its US$3 billion Senior Non-Preferred Notes Issuance

Transaction represents UniCredit’s first Senior Non-Preferred Issuance in US dollars and one of UniCredit’s largest issuances to date.

December 06, 2018

UniCredit SpA has successfully issued 5-year Senior Non-Preferred Notes for a total amount of US$3 billion as part of its US Global Medium Term Note Programme (GMTN) to a prime institutional investor.

The bond, part of UniCredit´s TLAC Funding Plan, is the second Senior Non-Preferred transaction by UniCredit following its inaugural €1.5 billion 5-year issued in January 2018. This is its first Senior Non-Preferred issuance under the GMTN Programme.

Latham & Watkins advised UniCredit SpA in the transaction with a team led from Milan by partner Ryan Benedict, together with partner Antonio Coletti and associates Giorgio Ignazzi and Marco Bonasso. Advice was also provided on US tax matters by New York partners Jocelyn Noll and Aaron Bernstein.

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