UniCredit S.p.A. has reopened the Italian covered bond market whilst issuing the first European Covered Bond (Premium) from Italy, complying with the new European directive implemented on 30th March 2023. The bond comprises a dual-tranche OBG worth a cumulative EUR3bn, with maturities of 3.5 and 7 years. Login to read the full TopDeal reasoning and deal statement with commentary.