Desio gives eurozone periphery covered bond issuers ‘reason to look again’

By Bill Thornhill
18 Jul 2019

Robust demand for this week’s covered bond from Banco di Desio e della Brianza has boosted hopes of further supply from the eurozone periphery. But, with further European Central Bank stimulus on the way, a supply ‘onslaught’ is unlikely.

Banco di Desio’s €500m seven year Obbligazioni Bancarie Garantite (OBG) was issued on Tuesday. The deal attracted a €1.9bn order book from 120 investors and was priced 13bp inside initial guidance at 50bp over mid-swaps to give a reoffer yield of almost 0.44%.

The deal, which ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.