UniCredit €1.25 billion 1.25% bond issue

Overview:

• UniCredit issued a €1.25 billion senior preferred bond with a six year maturity which is callable after five years.
• This issue is the first callable senior preferred benchmark issue by a European bank.
• For the first five years the bond carries a coupon of 1.25%. In the final year of its term the rate is variable.
• The issue was received well, securing €4.3 billion in orders from 300 investors.

Rajeeb Gurung - Researcher