A&O Shearman Assists UniCredit in Issuing Step-Down Fixed Rate Bonds

"A&O Shearman assisted UniCredit in issuing two fixed-rate step-down bonds on October 9, 2025, available for direct trading on the MOT market and EuroTLX Bond-X of Borsa Italiana. The bonds, one in euros and the other in US dollars, have a 13-year duration, maturing on October 9, 2038, with an initial gross annual interest rate of 8% for the first year, decreasing to 2.5% over the final six years for the euro bond, and starting at 10% for the dollar bond, decreasing to 2.5% over the last four years. These issuances are part of UniCredit's €60 billion Euro Medium Term Notes (EMTN) program. The A&O Shearman team was led by partner Cristiano Tommasi, with support from senior associate Elisabetta Rapisarda and associate Paolo Martellone."