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UniCredit to reimburse early Lower Tier II notes
September 30, 2013 / 5:31 AM / 4 years ago

UniCredit to reimburse early Lower Tier II notes

MILAN, Sept 30 (Reuters) - Italian bank UniCredit said on Monday it would repay ahead of maturity Lower Tier II subordinated notes due in 2018 worth 350 million pounds ($564 mln).

The bank said in a note it would repay the loan at par on Oct. 16, after receiving an authorisation by the Bank of Italy.

Italian lenders have moved to comply with new European capital rules which will change the way subordinated notes are booked as part of a bank’s regulatory capital. ($1 = 0.6203 British pounds) (Reporting by Valentina Za; Editing by Louise Heavens)

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