November 25, 2024 15:53 GMT
FINANCIALS: Banco BPM (BAMIIM) vs UniCredit (UCGIM) comps and moves today
FINANCIALS
Banco BPM moves today on the back of the UniCredit bid. Material moves, but there would still be further to grind in if an agreement does get reached.
Sen Non-Pref
BAMIIM 3.875% 2030 - Current spread: +147bps Change today: -16bps
Ratings - Baa3/BB+/BBB-
UCGIM 4.3% 2031 - Current Spread: +128bps
Ratings - Baa3/BBB-/BBB (Pos)
Tier 2
BAMIIM 4.5% 2036 - Current spread +219bps Change today: -17bps
Ratings - Ba1/BB
UCGIM 5.375% 2034 - Current spread +183bps
Ratings - Ba1/BB+
AT1
BAMIIM 7.25% Perp : +0.8pts
UCGIM 6.5% Perp: +0.1pts
CMZB 7.875% Perp: -0.6pts
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