◆ Smaller Italian bank has limited name recognition beyond home territory ◆ But strong book thanks to positive sentiment towards country ◆ Wide range of southern European banks used as comps
◆ French political turmoil 'largely isolated' as Piraeus sets new Greek AT1 records ◆ Euro unsecured market 'strong and resilient' ◆ Orders peak above €3bn but lack splash of recent AT1 books