Italy prints €14bn in new record-smashing effort

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By Lewis McLellan
03 Jun 2020

Italy once again asserted its market access on Wednesday, raising a staggering €14bn — its biggest single tranche bond ever. The new issue was timed just ahead of Thursday’s ECB meeting, at which the governing council is expected to expand its Pandemic Emergency Purchase Programme (Pepp).

The leads BNP Paribas, Citi, HSBC, Monte dei Paschi, NatWest Markets and UniCredit offered initial price thoughts of 15bp area over the August 2030 BTP. The bond will mature in December 2030.

Books opened with over €85bn indications of interest, of which leads ...

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