Italian companies enjoy deep and liquid capital markets

Italy’s economic recovery has not yet encouraged an increase in corporate bond issuance, with Italian companies still focusing more on deleveraging than on raising new finance to support capital expenditure or M&A activity. The result is a striking imbalance between supply and demand in the Italian corporate bond market which has led to new issues from frequent as well as less established borrowers being heavily oversubscribed. In this GlobalCapital roundtable, which was held in December, issuers and intermediaries gathered to discuss the outlook for the supply-demand dynamic in the Italian corporate bond and loan universe.