Wide-open market helps Italian banks make headway on capital, funding
Italian banks took over the financial institutions bond market this week, enjoying a much lower cost of funding and capital than they have been accustomed to in recent years. The sector will look to make good use of favourable issuance windows in 2020, as it moves inch by inch towards a more positive outlook.
Of the 10 unsecured bank bonds that were priced in the euro market this week, five of them were from Italian financial institutions.
The issuers raised a combined €3.7bn of debt in bail-inable and subordinated formats, with investors registering a whopping €18.2bn of demand for the deals.This ...
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