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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
UCGIM
UniCredit SpA€2,500
2EMEA
Jun 9, 2026
currency
EUR
size (m)
1,500.000
maturity
Jul 31, 2029
type
Fixed
tenor
3.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Covered Bond
moody's
Aa2
s&p
-
fitch
-
size description
-
re-open/tap
No
ipt
-
ipt-pxd
-8
guidance
MS+27 area
spread
19
coupon
3.00%
spread set
-
price
99.78500
yield
3.071%
book size (m)
3,500
peak book (m)
4,000
x-covered
2.33
book attrition
-12.50%
nic
-
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
3,500
peak book (m)
4,000
x-covered
2.33
book attrition
-12.50%
nic
-
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
currency
EUR
size (m)
1,000.000
maturity
Jul 31, 2033
type
Fixed
tenor
7.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Covered Bond
moody's
Aa2
s&p
-
fitch
-
size description
-
re-open/tap
No
ipt
-
ipt-pxd
-8
guidance
MS+47 area
spread
39
coupon
3.375%
spread set
-
price
99.91800
yield
3.387%
book size (m)
3,250
peak book (m)
3,400
x-covered
3.25
book attrition
-4.41%
nic
-
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
3,250
peak book (m)
3,400
x-covered
3.25
book attrition
-4.41%
nic
-
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 3500; Registration: Reg S Only; Comments: OBL 2.1 04/29 +36.8bp (px 98.37 HR 110%). LEI: 549300TRUWO2CD2G5692; Book size: 3250; Registration: Reg S Only; Comments: DBR 2.3 02/33 +49.6 (px 96.45 HR 106%). LEI: 549300TRUWO2CD2G5692;
Deal Comments
Combined books above EUR6bn (incl. 375m JLMs). UPDATE 3y: Spread Set at MS+19; 7y: Spread Set at MS+39
Guarantor(s)
UniCredit OBG Srl
Relative Value

Comps

Ticker

Rating (M/S&P/F)

Issue dt.

Amt.

Tenor

I-Sprd (mid)

Label

HVB 2 5/8 01/14/31

Aaa / NR / NR

Jan-26

€1,500mm

4.6yr

+20bp

-

HVB 3 08/06/31

Aaa / NR / NR

May-26

€1,250mm

5.2yr

+20bp

-

BACA 2 5/8 02/18/31

Aaa / NR / NR

Feb-26

€750mm

4.7yr

+20bp

-

LLOYDS 3 05/12/29

Aaa / NR / AAA

May-26

€1,500mm

2.9yr

+14bp

-

BMO 2 3/4 06/08/29

Aaa / NR / AAA

Jun-26

€1,000mm

3.0yr

+10bp

-

SANTAN 2 5/8 02/23/31

Aaa / NR / AAAu

Feb-26

€1,500mm

4.7yr

+20bp

-

ACASCF 3 01/16/33

Aaa / AAA / NR

Jan-26

€825mm

6.6yr

+36bp

-

BPCECB 3 1/8 01/10/33

Aaa / AAA / NR

Jun-26

€1,500mm

6.6yr

+35bp

Green

BMO 3 1/8 06/08/33

Aaa / NR / AAA

Jun-26

€1,000mm

7.0yr

+28bp

-

SANTAN 3 02/23/36

Aaa / NR / AAAu

Feb-26

€1,000mm

9.7yr

+33bp

-