UniCredit to sell new conditional pass through in 2015

UniCredit in Italy intends to sell covered bonds off its newly restructured programme that had until now only been used for retained issuance. The bonds which now have a rating of AA from Fitch, have been restructured from a soft bullet maturity to a conditional pass through bonds. They contain a mixed pool of residential and commercial mortgages. The deal is eligible for the LCR level 1B, CBPP3 and is compliant with Article 129 of the CRR.