Periphery lights up amid spring lull

UniCredit opened books on its debut Reg S dollar subordinated bond on Wednesday morning, going out with 6.625% initial pricing thoughts before setting guidance at 6.5% area. The deal follows a trickle of subordinated debt supply over the past two weeks, but is the first from a bank since Barclays printed its tier two Coco at the start of April.

  • 24 Apr 2013