Multi OBG talk shot down

A multi OBG deal from Italy’s state owned public financing institution Cassa Depositi e Prestiti now looks unlikely, bankers told The Cover on Friday. CDP is expected to decide by the end of this month whether and how to proceed with plans to funnel long term funding to Italy’s smaller banks, which are currently locked out of the markets. A multi issuer Obbligazioni Bancarie Garantite had been touted in the market this week, but industry officials on Friday said this was the least likely option, given the costs involved.