Italy smashes newly minted order book record with 15 year

By Lewis McLellan
11 Feb 2020

Italy printed €9bn with a 15 year benchmark on Tuesday, wowing onlookers with a new Italian order book record and a 4bp move from initial price thoughts.

Leads Goldman Sachs, Morgan Stanley, Nomura, Société Générale and UniCredit offered initial price thoughts of 9bp area over the 3.35% March 2035 BTP. Indications of interest shot up to over €40bn, allowing the leads to open books with guidance of 7bp area.

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