Barclays, UniCredit Market AT1 Bonds

Dow Jones

Feb 18, 2025

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)

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Initial price talk is at 6.25%, with the coupon reset date on June 3, 2033. \n\n\n  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%. \n\n\n \n\n\n  Write to Miriam Mukuru at miriam.mukuru@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 18, 2025 09:12 ET (14:12 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}