UniCredit AG to issue first dollar Pfandbrief

By Bill Thornhill
24 Jun 2019

UniCredit’s German subsidiary, HVB, has mandated leads for the first dollar covered bond in its 150 year history reflecting a preference to avoid issuing a negative yielding euro benchmark.

UniCredit AG has mandated BayernLB, Credit Suisse,  NatWest MarketsTD Securities,and UniCredit for the Aaa/---/AAA rated public sector three year Pfandbrief.

A banker on the deal said the forthcoming dollar transaction would be the first in the bank’s 150 year history and likely reflected ...

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