Miriam Mukuru
U.K. bank Barclays and Italian bank UniCredit marketed Additional Tier 1, o AT1, bonds on Tuesday, the former denominated in U.S. dollars and the latter in euros.
AT1 bonds are a type of risky debt issued by banks to meet capital requirements.
Barclays is selling U.S. dollar-denominated AT1 bonds, with initial price talk on the issue at 8.125% and a coupon reset date on March 15, 2035.
UniCredit is selling 1 billion euros ($1.05 billion) in AT1 bonds. Initial price talk is at 6.25%, with the coupon reset date on June 3, 2033.
CreditSights analysts estimate fair value on the coupon rate for the Barclays AT1 bond at 7.5% and for the UniCredit bond at 6.0%.
Write to Miriam Mukuru at miriam.mukuru@wsj.com
(END) Dow Jones Newswires
February 18, 2025 09:12 ET (14:12 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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