Bond € UBI Banca 1.75% 2023 XS1807182495
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  1. #1
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    Bond € UBI Banca 1.75% 2023 XS1807182495

    Issuer: Unione di Banche Italiane S.p.A. (Ticker: UBIIM)
    Instrument: Senior Non-Preferred Notes (being notes intended to
    qualify as strumenti di debito chirografario di secondo
    livello as defined under Article 12-bis of Legislative
    Decree No. 385 of 1 September 1993 of the Republic of
    Italy, as amended)
    Issuer Ratings: Baa3/Stable (Moody’s); BBB-/Stable (S&P); BBB-/Negative
    (Fitch); BBB/Stable (DBRS)
    Issue exp. Ratings: Ba3 (Moody’s)/BB+ (S&P)/BBB- (Fitch)/BBB(Low) (DBRS)
    Size: EUR benchmark
    Coupon: Annual fixed, ACT/ACT ICMA
    Maturity: 12 April 2023
    Settlement: 12 April 2018 (T+5)
    IPT: MS+ 145bps area
    Loss Absorption Power: By the acquisition of the Notes, each Noteholder
    acknowledges and agrees to be bound by the exercise of
    any Loss Absorption Power by the Relevant Resolution
    Authority that may result in the write-down or
    cancellation of all or a portion of the principal
    amount of, or distributions on, the Notes and/or the
    conversion of all or a portion of the principal amount
    of, or distributions on, the Notes into ordinary shares
    or other obligations of the Issuer or another person,
    including by means of a variation to the terms of the
    Notes to give effect to the exercise by the Relevant
    Resolution Authority of such Loss Absorption Power.
    Each Noteholder further agrees that the rights of the
    Noteholders are subject to, and will be varied if
    necessary so as to give effect to, the exercise of any
    Loss Absorption Power by the Relevant Resolution
    Authority.
    Status of the Notes: Unsubordinated and unsecured obligations of UBI Banca.
    Junior to Senior Notes and any other unsecured and
    unsubordinated obligations of the Issuer which rank, or
    are expressed to rank by their terms, senior to the
    Senior Non-Preferred Notes, pari passu without any
    preferences among themselves, and with all other
    present or future obligations of the Issuer which do
    not rank or are not expressed by their terms to rank
    junior or senior to the relevant Senior Non-Preferred
    Notes and in priority to any subordinated instruments
    and to the claims of shareholders of UBI Banca,
    pursuant to Article 91, section 1-bis, letter c-bis of
    the Banking Act, as amended from time to time
    Optional Redemption upon
    a MREL Disqualification
    Event: At any time at par, in whole but not in part, if the
    Issuer determines that a MREL Disqualification Event
    has occurred and is continuing (subject to applicable
    MREL Regulations and, if required, the prior consent of
    the Relevant Regulator and/or the Relevant Resolution
    Authority), in accordance with Condition 5(k). Redemption for tax reasons: At any time at par, for taxation reasons
    (obligation to pay additional payments as a result of
    amendment to tax legislation), in whole but not in
    part, Condition 5(d).
    Substitution and Variation: If at any time a MREL Disqualification Event occurs
    or in order to ensure the effectiveness and
    enforceability of Statutory Loss Absorption Powers in
    accordance with Condition 1, the Issuer may, subject to
    giving any notice required to be given to, and
    receiving any consent required from, the Competent
    Authority (without any requirement for the consent or
    approval of the holders of the relevant Notes of that
    Series) and having given not less than 30 nor more than
    60 days’ notice to the Trustee and the holders of the
    Notes of that Series (or such other notice period as
    may be specified hereon), at any time either substitute
    all (but not some only) of such Notes, or vary the
    terms of such Notes so that they remain or, as
    appropriate, become, Qualifying Senior Non-Preferred
    Notes, as applicable, provided that such variation or
    substitution does not itself give rise to any right of
    the Issuer to redeem the varied or substituted
    securities.
    Waiver of Set-Off: Each holder of a Senior Non-Preferred Note will
    unconditionally and irrevocably waive any right of
    set-off, netting, counterclaim, abatement or other
    similar remedy which it might otherwise have, under the
    laws of any jurisdiction, in respect of such Senior
    Non-Preferred Note
    Events of Default: The Events of Default in respect of the Notes, being
    events upon which the Trustee (or, in certain
    circumstances, the Noteholders) may declare the Notes
    to be immediately due and repayable, are limited to
    circumstances in which the Issuer is subject to
    Liquidazione Coatta Amministrativa as defined in
    Legislative Decree No. 385 of 1 September 1993 of the
    Republic of Italy (as amended from time to time)
    Governing Law: English (except for Condition 3(b) (Status of the Notes
    – Senior Non Preferred Notes) and Condition 3(c)
    (Status of the Notes – Subordinated Notes) each of which
    shall be governed by Italian law). See “Terms and
    Conditions of the Notes — Governing Law and
    Jurisdiction”.
    Documentation: Euro 15,000,000,000 Debt Issuance Programme, with Base
    Prospectus dated 27 July 2017, as duly supplemented
    Form: Reg S Bearer, New Global Note
    Target Market: Professional clients/ Eligible Counterparties
    (distribution channels which are appropriate for this
    target market)
    Fees: The Banks will be paid a fee in connection to the
    transaction
    Denominations: €250,000 and integral multiples of €1,000 in excess
    thereof
    Listing: Irish Stock Exchange
    ISIN: TBC
    Joint Bookrunners: Banca IMI (B&D)/Barclays/Credit Agricole CIB/HSBC/
    Natixis/Santander
    Timing: Books open, today's business

  2. #2
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    New UBI Banca 5y SNP

    SNR UBIIM 0.750 10/22 +62 Baa3/BBB-/BBB-
    SNR UCGIM 2.000 03/23 +55 Baa1/BBB/BBB
    SNR CABKSM 0.750 04/23 +52 Baa2/BBB/BBB
    SNR BBVASM 0.625 01/22 +20 Baa1/BBB+/A-
    SNR SANTAN 1.375 02/22 +20 A3/A-/A-

    SNP UCGIM 1.000 01/23 +83 Baa3/BBB-/BBB |+29bps
    SNP CABKSM 1.125 01/23 +72 Ba2/BBB-/BBB |+24bps
    SNP BBVASM 0.75 09/22 +47 Baa3/BBB/A- |+26bps
    SNP SANTAN 2.50 03/23 +49 Baa1/BBB+/A- |+33bps

    Recent SNP/HoldCo
    AIB 03/23 +105 (launched @115)
    MIZUHO 03/23 FRN +48 (launched @50)
    MIZUHO 03/28 +62 (launched @65)

  3. #3
    L'avatar di Kafir2
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    Grazie della segnalazione, purtroppo il taglio per me risulta eccessivo.

    ciao
    k

  4. #4
    L'avatar di parsifal1
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    abbiamo per favore isin di questa ubi ?

  5. #5
    L'avatar di rivetto
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    € UBI BANCA 5Y Senior Non-Preferred- Update

    > Orderbook in excess of €1bn
    > Spread set at MS+140
    > Books to go subject at 12.30PM Ldn/ 1.30PM CET
    > Todays business (IMI B&D)

  6. #6

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    new bond ubi 5 anni

    possono comprare solo istituzionali o anche retail,taglio minimo 250,come da articolo milano finanza.

  7. #7

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    Sapete quotazione bond uncredit 5y 1% senior non preferred.grazie

  8. #8
    L'avatar di rivetto
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    500m deal at MS+140
    Allocations and pricing this pm
    Final book of ~€1bn
    Todays business (IMI B&D)

  9. #9
    L'avatar di KlausC
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    Peccato i "soli" 250K. A quando le size da 1KK?
    In ogni caso un grazie a Rivetto per la segnalazione.

  10. #10
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    Grazie Rivetto come al solito.

    Quando hai l'ISIN postalo. Potrebbe essere un parcheggio della liquidità, aspettando tempi peggiori!

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