Veneto Banca plants senior marker for sub-IG banks

By Tom Porter
27 Sep 2013

Italy’s Veneto Banca took recent advice from FIG syndicates to the extreme this week as it brought its sub-investment grade rating to the senior unsecured market, offering the kind of yield that hasn’t been seen on a euro benchmark since January.

Bankers have been urging lower tier periphery banks to bring senior deals now that uncertainty over Fed tapering and the German election have evaporated.

But they perhaps weren’t expecting the Italian regional lender, rated BB by Standard & Poor’s, to lead the way.

“There are definitely a couple ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

Oops, something went wrong

We're sorry but at the moment we can't load this data