Italian pair lean on state guarantees in FIG return

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By Tyler Davies
23 Feb 2017

Ailing Italian duo Veneto Banca and Banca Popolare di Vicenza both sold senior bonds with controversial state guarantees this week. But Veneto’s deal was described as having gone “better than Vicenza’s”.

The European Commission said in January that Italy could provide the two Veneto-based banks with bond guarantees and other liquidity support measures, and market participants believe the pair could also need backing from a €20bn bailout fund approved in Italy this week.

Last December the private rescue ...

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