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UniCredit places 2-tranche US dollar debt offering

UniCredit SpA completed a two-tranche U.S. dollar debt offering that was its first foray into the dollar market in a decade, the lender said April 6.

The bank issued $1.25 billion of notes maturing April 12, 2022, with a 3.750% coupon and $750 million of notes maturing April 12, 2027, with a 4.625% coupon. The notes were priced at respective issue and reoffer prices of 99.513% and 99.085%, equivalent to spreads of 200 basis points over five-year U.S. Treasury bonds and 240 basis points over 10-year Treasuries.

UniCredit Bank AG, Citigroup, Goldman Sachs, Morgan Stanley, Nomura and UBS managed the placement and acted as joint book runners.