UniCredit enters ‘uncharted waters’ with retail spree
UniCredit funding head Waleed El-Amir has told EuroWeek that recent softening in the senior unsecured market presents investors with a good opportunity to tender bonds and pick up yield elsewhere, as the bank sounds out more than 100,000 retail bondholders for a debt buyback.
UniCredit on Wednesday launched a tender offer for up to 3.5bn of its senior retail debt, targeting some 12.9bn across 17 securities maturing between 2015 and 2017.
"We have been ambitious in the target of retail bonds we hope to buy back," said El-Amir. "The network has two and
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