Unicredit announces the launch of a Tier 2 subordinated bond with expiration at 10 years, refundable after five.
The bank entrusted the placement of the issue to a pool of banks made up of Goldman Sachs, HSBC, Mediobanca, Société Générale and UBS, as well as Unicredit itself.
The title has a rating expected of Baa3 from Moody's, BB+ from S&P and BBB- from Fitch.
The initial indications of price for benchmark issuance they are 265 basis points above midswap.
Meanwhile, about an hour and a half after opening, the stock on the stock exchange of Unicredit yields 1,36% on the main list of Piazza Affari, at 11,30 euros.
In the same minutes, the Ftse Mib travels in the red by about one percentage point.
SECURITY UPDATE TRAINING
Unicredit has set the amount of the issue at 1,25 billion euros. Orders, at the close of the books, reached 3 billion euros and made it possible to narrow the yield spread, with respect to the midswap rate, to 240 basis points from the initial 265.
