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An update from Unicaja Banco SA ( (ES:UNI) ) is now available.
Unicaja Banco SA has set the financial terms for a €500 million issue of euro-denominated contingent convertible preferred securities aimed at professional clients and eligible counterparties. The perpetual instruments, which may be redeemed at Unicaja’s option, will be issued at par and are intended to qualify as additional Tier 1 capital under EU and Spanish banking rules.
The preferred securities will carry a fixed annual coupon of 5.95% paid quarterly until November 18, 2031, after which the rate will reset every five years at a margin of 3.237% over the 5-year mid-swap, with payments remaining discretionary and conditional. If Unicaja’s or its group’s CET1 ratio falls below 5.125%, the instruments will automatically convert into newly issued ordinary shares, and admission to trading is envisaged on Euronext Dublin’s Global Exchange Market, reinforcing the bank’s capital structure but concentrating the product on non-retail investors due to regulatory selling restrictions.
The most recent analyst rating on (ES:UNI) stock is a Hold with a EUR2.90 price target. To see the full list of analyst forecasts on Unicaja Banco SA stock, see the ES:UNI Stock Forecast page.
More about Unicaja Banco SA
Unicaja Banco SA is a Spanish financial institution operating in the banking sector, providing retail and corporate banking services. The bank focuses on regulated credit activities within the eurozone and is subject to European prudential requirements for capital and solvency.
Average Trading Volume: 6,143,460
Technical Sentiment Signal: Buy
Current Market Cap: €7.15B
Find detailed analytics on UNI stock on TipRanks’ Stock Analysis page.