Unicredit offers to buy back senior bonds for up to 3.5 billion euros

MILAN Wed Apr 3, 2013 5:53am EDT

A Unicredit bank logo is seen in Rome November 15, 2011. REUTERS/Stefano Rellandini

A Unicredit bank logo is seen in Rome November 15, 2011.

Credit: Reuters/Stefano Rellandini

MILAN (Reuters) - Unicredit (CRDI.MI), Italy's biggest bank by assets, said on Wednesday it will buy back senior bonds for up to 3.5 billion euros ($4.5 billion).

The bank aims to reduce debt that will come due in the 2015-2017 period and to better use its liquidity.

The offer to purchase the bonds will start on April 8 and end on April 24, the lender said, adding it could, however, end the offer early, extend it or even reopen it.

(Reporting by Francesca Landini, editing by Jennifer Clark)

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