Cross-asset trend drives fresh players to Sondrio covered bond
![Los Angeles, California, USA - 5 April 2019: Illustrative Editorial of Banca Popolare di Sondrio website homepage. Banca Popolare di Sondrio logo](https://assets.euromoneydigital.com/dims4/default/4a02361/2147483647/strip/true/crop/3500x2333+0+0/resize/840x560!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2F37%2F96%2Fb7932966428dbecfd733a3b1b073%2Fsondrio.jpg)
Smaller book and less tightening than other recent OBG transactions but international buyers play covered versus senior spread
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