Shearman & Sterling is representing BofA Merrill Lynch and UniCredit Bank AG as joint global coordinators and joint bookrunners in connection with UniCredit’s €4 billion rights issue.

The firm is also advising Credit Suisse, Goldman Sachs International, Mediobanca and UBS Investment Bank as joint bookrunners and BNP PARIBAS, Nomura International Plc and Société Générale Corporate & Investment Banking as co-lead managers.

Shearman & Sterling’s advice covers the Italian, German and US legal aspects of the rights issue which includes a public offering in Italy and in Germany and Poland and a Rule 144A offering within the United States.

The proceeds will be used to strengthen the capital of the Milan-headquartered UniCredit Group.

The signing of the Unicredit rights offering coincided with the opening of Shearman & Sterling’s Milan office. The new office enhances the firm's position in the Italian marketplace and demonstrates Shearman & Sterling’s commitment to its northern Italy-based clients previously supported through its Rome office.