UniCredit sings for its sub debt

16 Jan 2013

UniCredit took a path less travelled by European banks on Wednesday morning, raising subordinated debt in Asia, with a Singapore dollar bond issue. It sold a S$300m 10.5 non-call 5.5 year tier two issue.

Lead managers Nomura, Standard Chartered and UBS raised close to S$500m of demand for the bond early on Wednesday. That covered the borrower’s target size, pushing leads to accelerate execution. They had planned a two day execution process, but instead shut the books on the first day.

The ...

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