UniCredit to launch partial buyback of 2.5 bln-euro notes

MILAN Mon May 26, 2014 1:40pm EDT

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MILAN May 26 (Reuters) - UniCredit, Italy's biggest bank by assets, said on Monday it would launch a partial buyback of senior notes with a nominal value of up to 2.5 billion euros ($3.4 billion).

The offer will be open from May 29 to June 10.

The transaction will allow the bank to cut excess debt and spread the maturity of its liabilities, reducing the amount of debt due to mature in 2016 and 2017, UniCredit said.

($1 = 0.7325 Euros) (Reporting by Isla Binnie, editing by Danilo Masoni)

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