| Similar to convertible bonds but not linked to the shares of the issuer. They can be exchanged for shares Similar to convertible bonds but not linked to the shares of the issuer. They can be exchanged for shares in another company.in another company. |
UniCredito Italiano Bank
(Ireland) plc
Date closed: 19/12/03
Volume: €1.26 billion
Guarantor: UniCredito Italiano S.p.A
Rating: AA-/Aa2 (A-1+/P-1 Short Term)
Maturity: 19/12/08
Coupon: 2.5%
Joint Lead Managers: Merrill Lynch International, Mediobanca-Banca di Credito Finanziario S.p.A., and UniCredit Banca Mobiliare S.p.A ("UBM") & SG Corporate & Investment Banking
Irish Legal Adviser: McCann FitzGerald
Description: The notes are exchangeable into ordinary shares of Assicurazioni Generali. The issue was 2.4 times oversubscribed. The notes are denominated in units of €50,000 and may be exchanged at a ratio of 1780.6288 shares per note of the underlying share price reaches €28.08 between years 3 & 5. |
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| Article appeared in the February 2004 issue.
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