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Banco Popolare Plans Two-part Senior Unsecured Bond

Date : 02/22/2012 @ 5:04AM
Source : Dow Jones News
Stock : JP Morgan Chase & Co. (JPM)
Quote : 52.3  1.33 (2.61%) @ 8:00PM
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Banco Popolare Plans Two-part Senior Unsecured Bond

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Banco Popolare Vicenza is planning to sell a two-part, senior unsecured bond as part of its recent debt exchange, one of the banks running the deal said Wednesday.

The two-year tranche has a yield of 5.75% and the three-year tranche has a yield of 6.75%. The offer price is par, the bank said.

Banca IMI, JPMorgan Chase & Co., Mediobanca, Royal Bank of Scotland Group PLC and UBS AG are the lead managers on the sale.

The issuer is rated BBB- by Standard & Poor's Corp. and BBB by Fitch Ratings.

-By Ben Edwards, Dow Jones Newswires; 44-20-7842-9287; ben.edwards@dowjones.com



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