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UniCredit in recent weeks put in a request with European Central Bank supervisors to repay a 1.25 billion euro 6.625% perpetual bond on June 3, the first opportunity it has to repay, the source said.
While UniCredit has signalled its intention to redeem the bond, it has until early May to make a final decision.
A supervisory source told Reuters that redeeming AT1 bonds is a good way to instill confidence in markets if banks have enough capital, which the source said was the case for UniCredit.
A spokesperson for UniCredit declined to comment. The European Central Bank declined to comment.
