Italy in the news

  • Italy kicks €4.2bn of 2017 redemptions into next two decades

    The Italian Treasury on Thursday bought back €4.2bn of the November 2017 BTP Italia — more than €1bn above its target amount — as part of a syndicated exchange that swapped the bonds for paper maturing in the 2020s and 2030s.

    • 05:15 PM
  • The Fillon threat to French and Italian government bonds

    Fears of Marine Le Pen winning this year’s French presidential election may have receded but investors should be hoping that her loss will be to frontrunner Emmanuel Macron — and not to former favourite François Fillon.

    • 04 Apr 2017
  • CréditAg's $3bn capital deal starts green ABS race

    The revival of banks using securitization to free up regulatory capital could open new possibilities for accelerating the financing of a greener economy, as a ground-breaking deal demonstrated this week, write Jon Hay and David Bell.

    • 09 Mar 2017
  • Italy EUR3bn 1.3% May 28 linker

    • 09 Mar 2017
  • Italy wins €6.4bn book for inflation linker

    Italy drew a more than a twice oversubscribed book on Tuesday and priced well inside guidance as it brought its second syndication of the year, a €3bn May 2028 inflation-linked BTP.

    • 07 Mar 2017
  • Italy hires for linker as spread over Spain falls

    Italy has mandated banks for its second syndication of the year, after a month in which its spread to closest peer Spain has tightened.

    • 06 Mar 2017
  • CDP ends February on a high note despite overall lull

    Cassa Depositi e Prestiti has sold €300m and €150m notes late in February, despite dealers reporting an overall lack of MTNs in the market.

    • 02 Mar 2017
  • Sovereign supply rumoured in euros

    A trio of eurozone government borrowers are rumoured to be mulling deals in the coming weeks, with conditions at the long end in euros looking stronger than earlier in the year.

    • 16 Feb 2017
  • Spain’s early bird gets the demand in 10s

    Spain added another entry to its growing book of blockbuster trades this week, using a novel early-bird feature to help drum up demand for its traditional 10 year annual opener. The deal came as Italy’s spread over Spain widened, despite a court ruling that analysts said should be positive for political stability in Italy in the near term.

    • 26 Jan 2017
  • Italy EUR6bn 2.45% Sep 33

    • 19 Jan 2017
  • Dollar long end in SSA sights despite Trump dollar diss

    US President-elect Donald Trump left market participants dumbfounded by saying that the dollar is too strong just a few days before his inauguration on Friday — a position he won after a campaign promising infrastructure spending and tax cuts. But while Trump’s ability to disrupt markets is likely to be a feature of the next four years, the start of an unwinding of the ‘Trump trade’ could help public sector borrowers bring 10 year deals to a red hot dollar market, writes Craig McGlashan.

    • 19 Jan 2017
  • A steady hand needed to find long end euro demand

    Euro bonds at the 10 year maturity and beyond have proven difficult so far in 2017, but a strong performance from the European Investment Bank may have shown other issuers what it takes to pick up size at long maturities.

    • 19 Jan 2017
  • Italy matches Belgium for size, book and curve performance

    Italy on Wednesday produced an almost carbon copy trade of Belgium’s 10 year euro benchmark from earlier this week, printing €6bn as its curve tightened in the background — although with a longer dated bond.

    • 18 Jan 2017
  • Italy prepares 2017 debut after breezing through DBRS downgrade

    Italy is set to kick off its syndicated programme for the year with a September 2033 euro benchmark, as the sovereign brushed off a downgrade from DBRS late last week.

    • 17 Jan 2017
  • Italy faces rating trial as Portugal passes test

    Portugal found the best possible medicine to a rising fever in its bond yields by building a large order book on Wednesday for its first syndication of 2017. Attention now turns to Italy, which faces a crucial rating review by DBRS on Friday.

    • 12 Jan 2017

Dealer League Table Italy

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 May 2017
1 Intesa Sanpaolo SpA 6,041.34 2 31.69%
2 UniCredit 4,773.28 1 25.04%
3 NatWest Markets 1,268.07 1 6.65%
3 ING 1,268.07 1 6.65%
3 Credit Agricole CIB 1,268.07 1 6.65%

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 23 May 2017
1 Barclays 10,691.12 15 8.76%
2 BNP Paribas 10,516.31 14 8.62%
3 Citi 10,121.17 12 8.30%
4 HSBC 9,193.03 13 7.53%
5 JPMorgan 8,809.30 12 7.22%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 May 2017
1 JPMorgan 25,552.69 63 5.96%
2 Citi 24,119.11 60 5.63%
3 Deutsche Bank 17,545.97 37 4.09%
4 HSBC 16,628.60 40 3.88%
5 Barclays 13,251.34 33 3.09%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 May 2017
1 JPMorgan 22,518.92 50 8.33%
2 BNP Paribas 21,790.92 38 8.06%
3 Barclays 21,543.33 50 7.97%
4 HSBC 19,548.33 56 7.23%
5 UniCredit 18,534.46 46 6.86%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 03 Apr 2017
1 JPMorgan 39,067.52 180 8.50%
2 Citi 32,458.25 115 7.06%
3 Barclays 30,658.65 76 6.67%
4 Deutsche Bank 29,302.58 107 6.38%
5 HSBC 28,071.48 101 6.11%