A GROWING PRESENCE IN THE EUROMARKETS
In August 1985, the co-operative banks signalled their emergence as a major force in the Euromarkets when they syndicated one of the largest ever multi-currency issues for the World Bank. The $325 million (equivalent) facility (the second by UNICO for the World Bank) consisted of eight currency tranches including six private placements in Deutschemark, yen, Danish kroner, Dutch guilders, Austrian schillings and Ecus. It was co-ordinated by DG Bank and included all the members of the UNICO Banking Group, as well as six smaller co-operative institutions.
The issue was well received and according to Anthony Tuk, General Secretary of the UNICO Banking Group, attracted considerable attention from commercial bankers gathered in Seoul for the IMF meeting.
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