Intesa makes eagerly awaited non-pref debut

By Frank Jackman
18 Feb 2021

Intesa Sanpaolo launched a long awaited debut senior non-preferred deal on Wednesday. After having announced a large non-preferred funding programme last year, the bank has reduced its funding needs thanks to regulatory changes.

The bank could afford to wait before issuing paper in the format thanks to its strong capital base, said Alessandro Lolli, head of group treasury and finance at the Italian borrower.

Before the outbreak of the coronavirus pandemic, the bank had indicated plans to raise €5bn-€7bn of ...

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