Italian Bank Issues €2.5 Bln Covered Bond

20 Jul 2009

Milan, Italy-based UniCredit Family Financing Bank has closed its latest €2.5 billion ($3.6 billion) covered bond, which is backed by residential mortgages it has originated.

-- Daniel O’Leary

Milan, Italy-based UniCredit Family Financing Bank has closed its latest €2.5 billion ($3.6 billion) covered bond, which is backed by residential mortgages it has originated. Fitch Ratings has rated the single-tranche transaction AAA.

An analyst with Fitch said UniCredit had probably taken the deal to market now ...

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