Key Developments: UniCredit SpA (CRDI.MI)

CRDI.MI on Milan Stock Exchange

4 May 2015
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Latest Key Developments (Source: Significant Developments)

UniCredit SpA and Intesa Sanpaolo SpA transfer a portfolio of loans worth around 1 billion euros to a vehicle entirely controlled by KKR
Friday, 17 Apr 2015 12:32pm EDT 

Intesa Sanpaolo SpA:Unicredit and Intesa Sanpaolo sign a Memorandum of Understanding with KKR and Alvarez & Marsal.Creation of a securitization vehicle, the "130 Vehicle" and a joint-stock company, the "SPA", to control the vehicle.Vehicle to pool certain portfolios of receivables from medium and long-term loans as well as shares or participating instruments.KKR to be controlling shareholder of the company.Portfolios estimated to have a value of around 1 billion euros.Banks to receive notes of diversified seniority issued by the 130 Vehicle and participating instruments issued by SPA.Aim of Memorandum of Understanding is turnaround and re-launching of medium-large companies.  Full Article

UniCredit SpA says Moody's may raise rating to 'Baa1'- Reuters
Wednesday, 18 Mar 2015 02:40am EDT 

UniCredit SpA:Rating agency Moody's had placed its 'Baa2' long-term and senior unsecured debt ratings under review for a possible upgrade-Reuters.The review, which stems in part from the agency's revised methodology, is expected to be concluded in the coming months and result in the ratings being raised to 'Baa1.  Full Article

UniCredit SpA raises 2.5 bln euros in Tier 2 debt to boost capital– Reuters
Thursday, 5 Mar 2015 08:22am EST 

UniCredit SpA:Has raised 2.5 billion euros from retail investors selling a subordinated bond that it will be able to include in its supplementary capital – Reuters.UniCredit and other Italian banks recently stopped counting as part of their Tier 2 capital subordinated bonds where gradual repayment began less than five years after issue.exclusion of some subordinated bonds from the capital base had seen UniCredit's total capital ratio fall to 13.6 percent of assets at the end of December from 14.9 percent at the end of September.  Full Article

UniCredit SpA issues 10 year covered bond (OBG) benchmark of 1 billion euros
Thursday, 26 Feb 2015 01:24pm EST 

UniCredit SpA:Issues 10 year covered bond (OBG) benchmark of 1 billion euros.Says maturity is 10 year.Says bond will pay coupon of 0.75 pct with issue price set at 99.118 pct and yield of around 53 bps below equivalent maturity BTP at time of launch.  Full Article

Eurocastle Investments announces a new investment in Unicredit SpA subsidiary Unicredit Credit Management Bank
Thursday, 12 Feb 2015 02:01am EST 

Eurocastle Investments Ltd:Announces a new investment in Unicredit Credit Management Bank and a portfolio of non-performing loans.Together with other affiliates of Fortress Investment Group LLC, it has reached agreement to acquire Unicredit Credit Management Bank from Unicredit SpA.Acquisition includes a portfolio of non-performing loans ("NPLS") with a GBV of about 2.4 billion euros and an NPL servicing business.Investment is expected to result in an investment by Eurocastle of about 200 million euros.  Full Article

UniCredit SpA proposes FY 2014 dividend
Wednesday, 11 Feb 2015 10:00am EST 

UniCredit SpA:Proposes FY 2014 dividend of 0.12 euros per share with a 35 pct pay-out ratio.  Full Article

UniCredit SpA issues 1 billion euros senior benchmark 2020
Monday, 12 Jan 2015 12:06pm EST 

UniCredit SpA:Says issued a new senior benchmark floater with a maturity of five years and one month and a size of 1 billion euros.Says coupon has been set at 100 bps over three month Euribor with an issue/re-offer price of 99.75%.  Full Article

UniCredit SpA says Unicredit Bank Austria sells CA Immobilien stake for 295 Million euros
Thursday, 2 Oct 2014 11:46am EDT 

UniCredit SpA:Says UniCredit Bank Austria sold its 16-pct stake in CA Immobilien to private holding company based in Cyprus in 295 million euros deal.  Full Article

UniCredit SpA, Banco Santander SA in talks to merge asset management units-Reuters
Tuesday, 23 Sep 2014 01:47pm EDT 

UniCredit SpA:Italian bank UniCredit SpA and Spain's Banco Santander SA (Santander) are in talks to merge their fund management businesses and create a European powerhouse overseeing some 350 billion euros ($450 billion) of assets-Reuters.Under the proposed deal, Santander Asset Management will combine with UniCredit's Pioneer unit, with both banks owning about a third each of the new company, UniCredit CEO Federico Ghizzoni told reporters.Private equity funds Warburg Pincus and General Atlantic, which are already partners in Santander Asset Management, will together take the remaining third of the merged entity, before exiting the venture in a few years when it will likely be listed on the stock market, Ghizzoni said.He gave no financial details about the planned tie-up, only saying Santander had offered a "better price" than the two other bidders for Pioneer, a consortium comprising private equity fund CVC Capital Partners with Singapore sovereign fund GIC, and U.S. fund Advent.At least one of the proposals put to UniCredit valued the whole of Pioneer at between 2.4 billion euros and 2.7 billion, or 9 to 10 times earnings before interest, tax, depreciation and amortisation of 270 million euros, sources familiar with the matter previously said.Santander said it had no comment.  Full Article

UniCredit SpA acquires subsidiary stake in Torre SGR SpA
Wednesday, 10 Sep 2014 12:01pm EDT 

Torre SGR SpA:Says that Unicredit SpA has acquired, from its subsidiary Pioneer Investments Management SGRpA, its participation in the Torre SGR SpA's share capital, equal to 37.5 percent.Torre SGR, for the remaining 62.5 percent, is owned by Fortezza RE Srl, a company established under the laws of Luxembourg owned by funds managed by Fortress Investment Group LLC.  Full Article

BRIEF-UniCredit Ceo says to complete asset management deal by year-end

* bank expects to complete deal with Santander on asset management units by end of the year Further company coverage: (Reporting by Milan newsroom)

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