Banca Popolare di Vicenza to exchange €2.5bn of senior

14 Feb 2012

Italy’s Banca Popolare di Vicenza is offering investors the chance to exchange €2.5bn of senior unsecured debt into new notes due in 2014 and 2015.

A funding official at the bank said the exchange was intended to disperse the bank’s upcoming redemptions and extend its maturity profile. Depending on the participation rate, fresh investors may be involved in the new issues.

Investors may tender any and all of their holdings in the following notes: ...

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