UniCredit takes another chunk out of 2021 TLAC plan

UniCredit sold a $1bn non-preferred senior bond in the dollar market this week, as it made further headway on its total loss-absorbing capacity (TLAC) plans for next year.
The Italian lender priced its $1bn six year non-call five transaction at 230bp over US Treasuries on Tuesday evening.
Bookrunners Citi, Goldman Sachs, JP Morgan, Morgan Stanley, UniCredit and Wells Fargo welcomed $4bn of demand for the Reg S/144A trade, from about 170 accounts.
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