Iccrea to call a pair of sub bonds

By David Freitas
12 May 2020

Iccrea Banca said on Tuesday that it had obtained the necessary regulatory approval to call two of its outstanding subordinated bonds, amid debate about the economic merits of leaving capital instruments outstanding.

The Italian bank will be redeeming a subordinated FRN and a fixed rate tier two in June, five years ahead of their maturities in 2025.

The bonds had a total nominal value of about €118m.

The fixed rate tier two had been trading at a cash price of about 86 ...

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