Italy returns to dollars following second Futura

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By Burhan Khadbai
19 Nov 2020

Italy made a strong return to the dollar market on Tuesday with a deal over three times covered, which came following the conclusion of the sovereign’s second BTP Futura bond sale at the end of last week.

Italy held a series of investor calls last week, sounding out the likely market reception for a February 2026 and a potential additional November 2050 bond. It opted to go for just the former. The leads opened books on Tuesday morning with guidance of mid-swaps plus 95bp area, ...

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