Published: January 9, 2013
Bank attracts 300 investors and EUR6bn orderbook, resulting in tightened pricing.
UniCredit has launched a new seven-year benchmark covered bond, raising €1bn (US$1.3bn).
The deal drew orders from more than 300 investors and closed with an orderbook worth more than €6bn. The paper was allocated to funds (54%), banks (30%) and insurance companies (12%) with demand from across Europe.
The bond pays a coupon of 2.75% with a yield to maturity equal to 150 basis points over the swap rate, tighter than the initial spread indication of 160-165 bp.
UniCredit Corporate & Investment Banking, Banca IMI, Lloyds, Natixis and RBS managed the deal.