Obligation UBI Credito 0% ( IT0005202400 ) en EUR

Société émettrice UBI Credito
Prix sur le marché 100 %  ▲ 
Pays  Italie
Code ISIN  IT0005202400 ( en EUR )
Coupon 0%
Echéance 23/06/2022 - Obligation échue



Prospectus brochure de l'obligation UBI Banca IT0005202400 en EUR 0%, échue


Montant Minimal 100 000 EUR
Montant de l'émission 300 000 000 EUR
Description détaillée UBI Banca est une banque italienne, troisième plus grande banque du pays par nombre d'agences, offrant une gamme complète de services bancaires aux particuliers et aux entreprises.

L'Obligation émise par UBI Credito ( Italie ) , en EUR, avec le code ISIN IT0005202400, paye un coupon de 0% par an.
Le paiement des coupons est trimestriel et la maturité de l'Obligation est le 23/06/2022







UBI FINANCE CB 2 COVERED BOND - INVESTOR REPORT
Reference date 30/04/2019
Counterparties
Issuer
Unione di Banche Italiane S.p.a.
Sellers
IW Bank S.p.A. and Unione di Banche Italiane S.p.A.
Guarantor
UBI Finance CB 2 S.r.l.
Servicer
Unione di Banche Italiane S.p.a.
Calculation Agent
Unione di Banche Italiane S.p.a.
Liability Swap Provider
n.a
Asset Swap Provider:
n.a.
Account Provider
Unione di Banche Italiane S.p.a.
Denomination
ISIN
Series
Issue Date
Maturity Date
Currency
Principal
Coupon
UBI BANCA TV CB2 due 29/10/2022
IT0004864663
2nd (private placement)
29/10/2012
29/10/2022
Eur
4
00.000.000,00
2
.213.322,22
UBI BANCA TV CB2 due 14/07/2021
IT0005122418
4th (private placement)
14/07/2015
14/07/2021
Eur
6
50.000.000,00
-
UBI BANCA TV CB2 due 24/06/2022
IT0005202400
5th (private placement)
24/06/2016
24/06/2022
Eur
3
00.000.000,00
-
UBI BANCA TV CB2 due 21/12/2023
IT0005318560
6th (private placement)
21/12/2017
21/12/2023
Eur
3
00.000.000,00
-
UBI BANCA TV CB2 due 10/12/2024
IT0005355554
7th (private placement)
10/12/2018
10/12/2024
Eur
2
00.000.000,00
2
96.000,00
Total amount
1
.850.000.000,00
Nominal Value Test
A=

1.954.725.803,02
Adjusted Outstanding Principal Balance
B=

125.382.773,68
Principal Account plus Top-Up Assets
C=

0,00
Adjusted Outstanding Principal Balance of other eligible assets
F=

1.850.000.000,00
Principal Amount Outstanding of all Series of Covered Bonds
Total A*P+B+C>=F
Pass
Pass / Fail
P= Asset Percentage
100,00%
Amount of Credit Support

230.108.576,70
Result of the overcollateralisation in the Nominal Value Test
NPV Test
NPV Cover Pool = A + B

2.111.678.735,67
A

2.111.678.735,67
NPV Assets plus Top Up Asset
B

-
NPV Asset Swap and Liability Swap
NPV Cover Bond

1.884.079.488,37
TEST NPV Cover Pool > NPV Cover Bond
Pass
Pass / Fail
Interest Cover Test
A=

6.983.932,75
Interest on Interest Account
B=

0,00
Asset Swap Differential
C=

29.043.540,99
Interest due in the next 12 months
D=

0,00
Interest expected to be received from the Eligible Investments
E=

8.987.513,67
Interest Payments due under all outstanding Series of Covered Bonds
F=

3.052.310,09
Senior Liabilities
G=

0,00
Payments due by the Guarantor under any Swap Agreement
A+B+C+D>=E+F+G
Pass
Pass/ Fail
1


UBI FINANCE CB 2 COVERED BOND - INVESTOR REPORT
Reference date 30/04/2019
Top Up Asset Test
Top-up Assets
-

Public Entities Securities

0,00
Collections

132.366.706,43
Recoveries
-

Other
-

TOTAL Top-up Assets

132.366.706,43
Are the Total Top-up Assets >15% (*)
NO
If Yes, Excess Top-up Amount

0,00
(Amount to be Transferred to Guarantor in the next Calculation Period
if not cured via repayment of Term Loan)
Interest Account
Principal Account

1
20.587.182,94
Interest Account

3
.268.835,75
Reserve fund


3.255.811,22
Total

1
27.111.829,91
UBI Banca Event of Default?
Short Term
Short Term
Short Term
Short Term
Long Term
Long Term
Long Term
Long Term
(Moody's)
(S&P)
(Fitch)
(Dbrs)
(Moody's)
(S&P)
(Fitch)
(Dbrs)
UBI Banca
P-2
A-3
F3
R-2 (high)
Baa2
BBB-
BBB-
BBB
UBI Banca Event of Default?
NO
NO
NO
NO
NO
NO
NO
NO
UBI Finance Srl Event of Default?
NO
NO
NO
NO
NO
NO
NO
NO
Pool assets Analysis
Provisional Pool Summary
EUR
Aggregate current Principal Outstanding Balanc
2.451.016.631,31
Aggregate original Principal Outstanding Balanc
5.113.439.555,13
Average current Principal Outstanding Balance
103.292,03
Average original Principal Outstanding Balance
215.493,26
Maximum current Principal Outstanding Balance
12.758.990,76
Maximum original Principal Outstanding Balance
26.060.000,00
Total number of Loans
23.729
Weighted average seasoning (months)
104,47
Weighted average remaining maturity (months)
130,86
Weighted average original term (months)
235,33
Weighted average Current LTV (%) - indexed
37,36%
Weighted average Original LTV (%)
56,92%
Weighted average interest rate (%)
1,65%
% of Floating Rate Assets (By Outstanding Bala
88,34%
% of Fixed Rate Assets (By Outstanding Balance
11,66%
Collateral Currency
EUR
Current Loan Amount / Current Market
Value (indexed)
Number of Loans
%
Current Balance
%
0% - 20%
8.896
37,49%
549.352.322
22,41%
20% - 30%
4.336
18,27%
461.018.750
18,81%
30% - 40%
3.717
15,66%
474.726.768
19,37%
40% - 50%
3.017
12,71%
381.058.958
15,55%
50% - 60%
1.876
7,91%
240.788.440
9,82%
60% - 70%
1.063
4,48%
152.603.186
6,23%
70% - 80%
596
2,51%
105.499.205
4,30%
>80%
228
0,96%
85.969.002
3,51%
2
3.729
100,00%
2
.451.016.631,31
100,00%
Outstanding Loan Amount
Number of Loans
%
Current Balance
%
0 - 37,500
8.206
34,58%
153.885.860,13
6,28%
37,501 - 75,000
6.305
26,57%
346.469.611,31
14,14%
75,001 - 100,000
2.877
12,12%
249.501.883,32
10,18%
100,001 - 150,000
3.325
14,01%
402.611.139,25
16,43%
150,001 - 200,000
1.144
4,82%
195.845.101,73
7,99%
200,001 - 250,000
529
2,23%
117.173.505,11
4,78%
250,001 - 500,000
784
3,30%
269.467.093,87
10,99%
> 500,000
559
2,36%
716.062.436,59
29,21%
2
3.729
100,00%
2
.451.016.631,31
100,00%
Interest Type (*)
Number of Loans
%
Current Balance
%
Fixed rate
3.526
14,86%
285.708.676,20
11,66%
Floating rate
20.203
85,14%
2.165.307.955,11
88,34%
2
3.729
100,00%
2
.451.016.631,31
100,00%
(*) "Fixed rate" loans are loans that have a fixed rate for life, all other interest types are included in the "Floating rate" loans.
2


UBI FINANCE CB 2 COVERED BOND - INVESTOR REPORT
Reference date 30/04/2019
Currency
Number of Loans
%
Current Balance
%
Eur
23.729
100,00%
2.451.016.631,31
100,00%
Other Currencies
0
0,00%
0,00
0,00%
23.729
100,00%
2.451.016.631,31
100,00%
Originator
Number of Loans
%
Current Balance
%
IW Bank
118
0,50%
15.869.327,86
0,65%
UBI Banca
23.611
99,50%
2.435.147.303,45
99,35%
2
3.729
100,00%
2
.451.016.631,31
100,00%
Maturity Date
Number of Loans
%
Current Balance
%
2009 - 2012
2
0,01%
758,39
0,000%
2013 - 2017
66
0,28%
3.200.317,21
0,13%
2018 - 2022
5.571
23,48%
282.303.195,21
11,52%
2023 - 2027
7.843
33,05%
800.786.399,39
32,67%
2028 - 2032
4.802
20,24%
650.639.949,70
26,55%
2033 - 2037
2.704
11,40%
363.977.146,53
14,85%
2038 - 2042
1.873
7,89%
241.757.439,36
9,86%
2043 - 2047
834
3,51%
99.822.960,31
4,07%
> 2047
34
0,14%
8.528.465,21
0,35%
2
3.729
100,00%
2
.451.016.631,31
100,00%
Original Loan Amount / Original Market
Value (*)
Number of Loans
%
Current Balance
%
0% - 20%
1.874
7,90%
193.811.593,32
7,91%
20% - 30%
2.268
9,56%
217.415.933,71
8,87%
30% - 40%
3.188
13,44%
326.752.447,83
13,33%
40% - 50%
4.290
18,08%
481.079.334,42
19,63%
50% - 60%
4.021
16,95%
446.552.950,86
18,22%
60% - 70%
3.079
12,98%
334.508.262,16
13,65%
70% - 80%
2.726
11,49%
261.766.492,85
10,68%
> 80%
2.283
9,62%
189.129.616,16
7,72%
2
3.729
100,00%
2
.451.016.631,31
100,00%
(*) It refers to the LTV at the time of granting the loan
Seasoning (months)
Number of Loans
%
Current Balance
%
0 - 12
0
0,00%
0,00
0,00%
12 - 24
564
2,38%
65.409.265,29
2,67%
24 - 48
2.055
8,66%
244.447.560,19
9,97%
48 - 72
2.173
9,16%
260.449.808,62
10,63%
72 - 96
3.307
13,94%
376.340.326,83
15,35%
96 - 170
12.865
54,22%
1.385.250.316,10
56,52%
> 170
2.765
11,65%
119.119.354,28
4,86%
2
3.729
100,00%
2
.451.016.631,31
100,00%
Payment
Number of Loans
%
Current Balance
%
Monthly
20.830
87,78%
1.829.475.167,73
74,64%
Quarterly
568
2,39%
242.276.189,80
9,88%
Semi-Annual
1.935
8,15%
316.566.634,35
12,92%
Annual
11
0,05%
2.445.605,78
0,10%
Other
385
1,62%
60.253.033,65
2,46%
2
3.729
100,00%
2
.451.016.631,31
100,00%
3


UBI FINANCE CB 2 COVERED BOND - INVESTOR REPORT
Reference date 30/04/2019
Geographical Distribution
Number of Loans
%
Current Balance
%
Piemonte
2.528
10,65%
261.786.486,84
0
10,68%
Valle D'Aosta
38
0,16%
3.316.816,30
0
0,14%
Lombardia
10.953
46,16%
1.130.823.499,24
0
46,14%
Trentino Alto Adige
22
0,09%
5.009.102,13
0
0,20%
Veneto
383
1,61%
47.010.515,40
0
1,92%
Friuli Venezia Giulia
70
0,29%
11.562.636,87
0
0,47%
Liguria
1.237
5,21%
123.186.570,48
0
5,03%
Emilia Romagna
476
2,01%
75.450.671,90
0
3,08%
Toscana
110
0,46%
40.605.273,73
0
1,66%
Umbria
367
1,55%
38.399.420,08
0
1,57%
Marche
1.552
6,54%
150.919.589,47
0
6,16%
Lazio
1.709
7,20%
173.498.446,56
0
7,08%
Abruzzo
323
1,36%
31.543.620,83
0
1,29%
Molise
144
0,61%
10.926.699,71
0
0,45%
Campania
1.226
5,17%
133.013.627,74
0
5,43%
Puglia
1.043
4,40%
100.575.392,25
0
4,10%
Basilicata
213
0,90%
17.466.950,03
0
0,71%
Calabria
1.215
5,12%
87.324.230,11
0
3,56%
Sicilia
38
0,16%
3.136.347,87
0
0,13%
Sardegna
82,00
0,35%
5.460.733,77
0
0,22%
2
3.729
100,00%
2
.451.016.631,31
100,00%
Current and delays
Number of Loans
%
Current Balance
%
Current <= 1m
22.128
93,25%
2.163.138.164,17
88,25%
1<=2m
120
0,51%
12.323.731,26
0,50%
2<=3m
119
0,50%
9.158.425,36
0,37%
3<=6m
110
0,46%
15.180.534,11
0,62%
6<=12m
143
0,60%
20.684.747,03
0,84%
>=12
1.109
4,67%
230.531.029,38
9,41%
2
3.729
100,00%
2
.451.016.631,31
100,00%
Public Sector Bonds
Denomination
ISIN
Issuer
Issue Date
Maturity Date
Currency
Outstanding Principal
MtM Value
Total amount
-
-
Contact
Servizio Funding e Tesoreria
[email protected]
UBI Banca - Funzione Amm.ne Società Veicolo
[email protected]
With reference to the transaction specified above , this report is prepared by Unione di Banche Italiane S.p.A. acting as calculation agent (the "Calculation Agent" or "UBI") in accordance with the criteria described in the relevant transaction documents (the "Transaction Documents").
expressions used in this report have the respective meanings given to them in the Transaction Documents.
Certain information included in this report may be provided by other agents appointed under the Transaction Documents. The Calculation Agent shall be entitled to, and may, rely upon the information and reports received by such agents and will not be required to verify the
completeness of such notice, reports or information received by them.
Calculations contained in this report are made in accordance with the criteria described in the Transaction Documents.
This document is provided for information purposes only and does not constitute or form part of, nor may it be construed so as to constitute or form part of, an offer, or the solicitation of any offer, to buy, sell or subscribe for any securities mentioned herein, nor is it intended to
evaluation of the risk related to an investment in such securities or for use by any person in making investment decisions. The information provided in the report cannot substitute the obtaining of independent financial advice.
If this document has been sent to you in electronic form, you are reminded that documents transmitted via this medium may be altered or changed during the process of electronic transmission and consequently neither UBI nor its subsidiaries or affiliates, or any of their respectiv
managers, officers or employees, accepts any liability or responsibility whatsoever in respect of any difference between the documents distributed to you in electronic format and the copy made available on UBI's website.
Neither UBI nor its subsidiaries or affiliates, or any of their respective directors, managers, officers or employees shall h ave any responsibility or liability as to their fairness, accuracy, completeness or reliability or for any loss or damage
howsoever arising from or otherwise in connection with the use of this document

4