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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
LNCH
UCGIM
UniCredit SpA€750
1EMEA
Sep 18, 2026
currency
EUR
size (m)
750.000
maturity
-
type
Fixed Rate Reset
tenor
Perp
call
5.25
registration
Reg S Only
benchmark
-
ranking
Additional Tier 1
moody's
Ba2
s&p
BB
fitch
-
re-open/tap
No
ipt
6.625%-6.75% area
ipt-pxd
-43.75
guidance
STL
spread
-
coupon
6.25%
spread set
-
price
-
yield
-
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
First Pay: 2026-12-03; Redemption: 2031-12-03; Registration: Reg S Only; Comments: Tax Call: Yes. Clean-Up Call: 75%. Regulatory Call: Yes. LEI: 549300TRUWO2CD2G5692;
Relative Value

COMPS

Issuer

Moody's

S&P

Fitch

Coupon

Issue Date

Call Date

Reset Date

O/S

Bid Px

YTReset

Isprd (To Reset)

Reset

UCGIM 6 1/2 PERP

Ba2 *+

-

-

6.5

9/16/2024

12/3/2031

6/3/2032

1,000

104.3

5.529

214

421.2

UCGIM 5 5/8 PERP

Ba2 *+

-

-

5.625

2/25/2025

12/3/2032

6/3/2033

1,000

98.4

5.935

246

329.9

UCGIM 5.8 PERP

Ba2 *+

-

-

5.8

1/19/2026

12/3/2035

6/3/2036

1,000

97.23

6.198

272

301.3

ISPIM 5 1/2 PERP

Ba2

-

-

5.5

2/17/2026

2/17/2032

2/17/2032

750

97.46

6.057

259

302.8

ISPIM 5 7/8 PERP

Ba2

-

-

5.875

2/17/2026

2/17/2036

2/17/2036

500

98.35

6.101

263

314.4