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UniCredit issues €1B senior preferred bond

UniCredit SpA issued a fixed-rate senior preferred bond totaling €1 billion, according to an Oct. 2 release.

The notes, which carry a five-year maturity, pay a fixed coupon of 0.50% and have an issue price of 99.919%.

Following positive feedback by investors, the price guidance for the issuance was finalized at 90 basis points over midswaps after being reviewed to 95 to 100 basis points from the initially indicated 110 basis points.

UniCredit Bank AG acted as the sole book runner and lead manager on the issuance, while Credit Agricole Corporate and Investment Bank, Credit Suisse, ING, JPM and Santander acted as joint lead managers.