UniCredit returns to covered bond market with transparent pricing
UniCredit Bank Austria returned to the covered bond market for the second time this year to issue the country’s seventh benchmark in euros. Despite pricing with little to no new issue premium the deal attracted good demand from a wide group of investors.
The issuer mandated joint leads Danske Bank, JP Morgan, LBBW, Natixis and UniCredit on Tuesday morning for a €500m no-grow public sector Pfandbrief due October 2020.
Leads went out with initial price thoughts of high 20bp area over mid-swaps at 8:20am.
The issuer's last covered bond
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