BIT:UCGBanks
Did UniCredit’s €1bn Hybrid Bond Issue Just Redefine Its Capital Strategy Narrative (BIT:UCG)?
In January 2026, UniCredit S.p.A. completed a €1,000,000,000 fixed-income offering, issuing 5.8% junior subordinated callable Euro Medium Term Notes due January 19, 2049 at 100% of face value under Regulation S.
This long-dated, subordinated bond highlights UniCredit’s use of hybrid-style funding, which can support regulatory capital structure while tapping investor demand for higher-yield bank paper.
We’ll now examine how this €1,000,000,000 junior subordinated issue, with its 5.8% fixed...