UBI sells 10 year OBG after mulling timing pros & cons

UBI Banca tackled the complications of launching a new issue close to year-end to price a Eu1bn 10 year mortgage-backed covered bond on Thursday.

  • 04 Dec 2009

Leads Barclays Capital, Deutsche Bank, Natixis and Société Générale priced the issue at 67bp over mid-swaps after gathering more than Eu1.23bn orders, after guidance was set at the high 60s.

Some syndicate bankers away from the transaction said that its timing, so close to the end of the year, ...

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4 Barclays 25,009.79 63 6.22%
5 Deutsche Bank 22,679.02 69 5.64%

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1 BNP Paribas 299.85 1 21.73%
5 UBS 60.22 1 4.36%

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2 Credit Suisse 1,301.65 4 18.65%
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4 BNP Paribas 522.35 4 7.49%
5 SG Corporate & Investment Banking 444.17 3 6.37%