UniCredit and Intesa Sanpaolo printed €3bn of new debt this week, almost doubling the amount sold by Italian banks this month. Around €6.5bn of bonds have been sold in June, making it the largest amount of Italian bank bonds sold in a single month since early 2014.
Though Italian banks raised €9.5bn of funding in February 2017, a hefty chunk of that supply came from the ailing lenders Banca Popolare di Vicenza and Veneto Banca, which had been supported in the market with government guarantees.
On Wednesday, UniCredit
was able to reach its annual funding target of