UniCredit breeds more confidence for Italy

By Tom Porter
12 Nov 2013

UniCredit wasted no time in hitting the market after publishing its third quarter results this week, and delivered another positive deal for Italy by finding demand for its 2015 floating rate tap some 30bp tighter than the original deal.

UniCredit’s own investment bank ran the deal, with DZ Bank as senior co-lead, and put out initial price thoughts for a tap of its €750m July 2015 bond at 130bp over three month Euribor area on Tuesday morning.

The spread was then set at 130bp with books over ...

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