March 10, 2014 / 5:15 PM / 3 years ago

Unicredit plans Italy's first Additional Tier 1 bond -sources

LONDON, March 10 (IFR) - Unicredit is expected to announce plans on Tuesday to raise the equivalent of 2 billion Additional Tier 1 bonds, becoming the first Italian bank to use these risky bonds to boost its capital base.

The Italian lender is rumoured to be looking to issue the securities in the dollar market, and will make the announcement as part of its results.

Citigroup, HSBC and Societe Generale are among the banks that are said to be mandated for the trade although sources believe other investment banks will also be managing. UniCredit and the banks declined to comment. (Reporting by Helene Durand and Silvia Aloisi, in Milan; editing by Alex Chambers)

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