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© Reuters. Italian bank UniCredit issues senior senior debt at 6 and 10 years
Rome, Jan 11 (.) .- The Italian bank UniCredit (MI 🙂 reported today that it has launched a placement of senior senior debt with double tranche, one worth 1.25 million euros with a maturity of 6 years, but with an early repayment option after 5 years, and another of 500 million with a maturity of 10 years.
The operation has found a demand of more than 2.5 billion euros, with almost 200 combined orders from institutional investors, the entity said.
The 6-year debt, due after 5, was issued with a fixed coupon of 0.925% paid annually, at an issue price of 99.844%, equivalent to a differential of 85 basis points over the 5-year reference swap rate.
If the issuer does not demand the bonds after 5 years, the coupons for subsequent periods until maturity will be readjusted at a variable rate equal to the Euribor -the interest rate applied to transactions between banks in Europe- at 3 months plus the spread. initial 85 points.
In the case of 10-year debt, the fixed coupon is 1.625%, paid annually, with an issue price of 99.808%, equivalent to a spread of 125 basis points over the 10-year swap rate.
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