UniCredit hybrid has one eye on CRD2

13 Jul 2010

Lead managers Credit Suisse, JPMorgan and UniCredit went out with official guidance on Wednesday morning for a perpetual non-call 10 year hybrid tier one for UniCredit.

The deal is being marketed in the mid-9s on a coupon basis and the order book is said to be around Eu1bn. The issuer does not want more than Eu500m.

The deal is only the third hybrid tier one from a European bank this year but it is ...

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