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    UCG   IT0005239360


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UniCredit S p A : rides wave of post-summer capital markets transactions

09/09/2021 | 04:32am EDT

The bank confirms its role as key financial partner to states and corporates with a broad range of financial solutions in its core markets

In a wave of transactions following the summer break, UniCredit continued to support corporate clients and public institutions in core countries with traditional and innovative solutions to advance their growth projects and ESG agendas.

At the beginning of September, UniCredit supported the Republic of Germany issuing EUR 5.5 bn (USD 6.49 bn) in new 30-year government bonds, or Bunds, via a syndicated transaction, which received more than EUR 18 bn (USD 21.3 bn) of investor demand.

This was Germany's second syndicated debt sale this year, after it sold a 30-year green bond for financing environmentally beneficial projects in the spring.

In the private sector, UniCredit supported the German chemical company Evonik with the publication of its new green financing framework and the issuance of its inaugural green hybrid transaction, for an amount of EUR 500 m.

The proceeds from the green hybrid bond will be used by Evonik to finance investments for developing more sustainable products and reducing its CO2 footprint.

Meanwhile, UniCredit supported Czech Gas Networks (CGN) with issuing its inaugural green euro benchmark senior unsecured bond, offered with a maturity of 8 years.

CGN is the largest gas distribution operator in the Czech Republic, accounting for 81% of the volumes distributed in the country, operating around 65,000 km of pipelines and servicing 2.3m off-take points.

UniCredit also played a key role in financing several prominent merger and acquisition operations across Europe.

For instance, UniCredit supported the German real estate company Vonovia SE issuing a EUR 5 bn bond - the biggest euro corporate bond deal for almost a year.

Part of the proceeds will be used to refinance a bridging loan facility, which was previously used to increase Vonovia's stake in target Deutsche Wohnen SE earlier this year.

Also, in Germany, UniCredit acted as underwriter, bookrunner and MLA in the EUR 2.25 bn financing for leading European healthcare distribution company PHOENIX Pharmahandel GmbH & Co KG ('PHOENIX') to support with the acquisition of some European assets from McKesson Group.

PHOENIX ensures the distribution of COVID-19 vaccines in several European countries, thereby supporting national immunisation campaigns. The acquisition will enable PHOENIX to strengthen its position in France and Italy and to expand into new European countries, such as Belgium, Ireland, Portugal, and Slovenia, strengthening its distribution and pharmacy networks, as well as benefitting from significant collaborations.

Additionally, UniCredit acted as Joint Global Coordinator in a EUR 1.25bn dual-tranche Convertible Bond for the German Tech company Delivery Hero.

Delivery Hero will use the proceeds for general corporate purpose and to take advantage of any M&A opportunities that may arise.

Finally, the bank contributed to bringing the US multinational General Motors Financial Company into the European market, with a successful dual-tranche senior bond transaction in EUR and British Pounds for respectively EUR600mn and GBP300mn.

Richard Burton, UniCredit's Head of CIB said: 'We remain committed to serving our clients and the communities in which we operate. Our main purpose is to offer the best possible solutions to help our new and existing customers thrive and prosper, while achieving their objectives.'


UniCredit S.p.A. published this content on 09 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 September 2021 08:31:02 UTC.

ę Publicnow 2021
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Net income 2021 2 934 M 3 403 M 3 403 M
Net Debt 2021 - - -
P/E ratio 2021 8,79x
Yield 2021 4,05%
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Capi. / Sales 2021 1,49x
Capi. / Sales 2022 1,49x
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Free-Float 86,7%
Duration : Period :
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Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 11,71 €
Average target price 12,66 €
Spread / Average Target 8,06%
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Managers and Directors
Andrea Orcel Chief Executive Officer
Stefano Porro Group Chief Financial Officer
Pietro Carlo Padoan Chairman
Ranieri de Marchis Co-COO & General Manager
Carlo Vivaldi Co-Chief Operating Officer
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