It reopened yesterday Tier 2 subordinated bond issued at the end of October by Unicredit. The Bank placed other bonds for a total of 250 million euro. In a favorable climate also thanks to the agreement reached in recent days on the Greek debt, the issue met with strong interest, with a demand of around 400 million euro.
The bonds pay a coupon of 6,95% and were priced at 498 basis points above the midswap, ie 12 points less than in the previous auction. According to Radiocor, 79% of the securities were assigned to funds, 13% to banking institutions and 7% to insurance companies.
On a geographical basis, the distribution saw 37% of the bonds ending up in the hands of UK investors, while 22% remained in Italy and 17% went to French buyers. The bond was rated Baa3 by Moody's.
