Emiliano moves into double digits
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Covered Bonds

Emiliano moves into double digits

Credito Emiliano priced a covered bond at a double digit margin on Tuesday, the first time in four years that second tier Italian bank has done so. The scale of demand and level of funding illustrated that spreads between peripheral and core markets are reverting to historical norms, and that Spanish borrowers have been shrewd to postpone issuance plans.

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