Dealers bank on herd mentality as CP investors peruse periphery
Peripheral eurozone banks’ euro commercial paper is back on the shopping lists of a growing number of investors. Dealers are hopeful that the trickle of deals seen over the last six weeks could lead to a flood in the coming months.
Intesa Sanpaolo has been one of the big beneficiaries of the improved sentiment. It has sold $3.1bn of ECP so far in October, its busiest month since it sold $3.9bn in July 2011, according to Dealogic.
The Italian bank has also been able to push out the tenor
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