Unicredito Italia (UNCFF.PK) UniCredit looks to sell a €750 million, or $977.5 million, five-year senior unsecured bond on Tuesday, one day following the bank’s adding €250 million to its recent 10-year subordinated bond which constitutes a riskier type of debt further down the line in the event of default. Even with the euro-zone debt crisis, investors who want yield are eagerly raising their exposures to that area and UniCredit is ready to take advantage. Thus far in 2012, the cost of insuring UniCredit’s senior debt against default has nearly been cut in half to 2.85 percent, says Markit, showing the extent to which the perception of risk has been assuaged towards the bank.
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Fifth Street Finance Corp. (NYSE:FCS) reported in a Tuesday press release that it priced a public offering of 14 million shares of its common stock at a public offering price of $10.68 per share for total gross proceeds of $149.52 million with all shares being offered by the company. Morgan Stanley (NYSE:MS), Barclays (NYSE:BCS), Goldman Sachs Group (NYSE:GS), UBS Investment Bank and Wells Fargo Securities are lead book-running managers for the offering, with Raymond James and RBC Capital Markets as joint book-running managers for the offering. Janney Montgomery Scott LLC, SMBC Nikko, Gilford Securities Incorporated, and Maxim Group LLC are acting as co-managers.