Deals of the month

UniCredit came to market in February with its first senior transaction since the summer. The deal proved remarkably successful given the volatile conditions and, at the time, prompted optimism among some managers that the market was learning to live with volatility.

"Though market volatility is here to stay, and who knows where the next round will originate, I believe the psychological effect of volatility on the new issue market is diminishing and will diminish further," said one banker close to

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