Banco Popolare di Verona e Novara Scarl

  • 04 Mar 2005
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Rating: A2/A/A+
Amount: Eu800m
Maturity: 10 March 2010
Issue price: 99.904
Fixed re-offer price: 99.857
Coupon: three month Euribor plus 12.5bp
Launch date: Friday 25 February
Payment date: 10 March
Joint books: Citigroup, Mediobanca
Joint lead: Banca Aletti

Bookrunner's comment:

Mediobanca — About 80% of the bonds were sold outside Italy. Around 8% went to the UK, Germany took 20% and the rest went elsewhere, including some to Asia.

The buyers were mostly banks, but there were some asset managers.

Verona has a 2008 deal at 14bp over and there is a 2011 at 18.5bp over Euribor.

There is also a Monte dei Paschi di Siena February 2010 at 14bp over and a Lombarda March 2011 at 21bp over.

The MPS issue is bigger, and Lombarda is more or less the same size, but there is nothing exactly comparable.

There is a lot of demand at the moment, and this kind of issuer is particularly sought after because it is single-A and there is demand for spread.

  • 04 Mar 2005

All International Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 92.59 388 8.96%
2 Citi 85.30 278 8.25%
3 BofA Securities 63.15 265 6.11%
4 Barclays 58.01 223 5.61%
5 Deutsche Bank 55.74 184 5.39%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 60.87 123 14.06%
2 Credit Agricole CIB 28.59 93 6.60%
3 Santander 25.41 90 5.87%
4 JPMorgan 23.88 61 5.52%
5 UniCredit 21.51 103 4.97%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 2.07 11 10.42%
2 BofA Securities 1.40 6 7.01%
3 Citi 1.37 7 6.87%
4 Morgan Stanley 1.36 6 6.85%
5 JPMorgan 1.31 7 6.59%