Intesa Sanpaolo

Italy’s largest bank, Intesa Sanpaolo, had a good response to its debut dim sum this week but restricted European orders as it sought to build an Asian investor base. The borrower also capped the size at Rmb650m ($106m) as it needed to pay a premium over its euro curve.

Italy’s largest bank Intesa Sanpaolo priced its debut dim sum bond on Wednesday. Bankers on the deal say that the issuer could have taken more the final size, but as the issuer was paying a premium over its Euro curve, it closed the deal at Rmb650m ($106m). The issuer also capped European investor orders in pursuit of its aim to build relationships in Asia.

Private placements from peripheral European financial institutions will dominate the market in the coming weeks as investors hunt for yield, according to MTN dealers. These banks could steal the spotlight from Nordic financial institutions, which have dominated the market this week.

Private placements from peripheral European financial institutions will dominate the market in the coming weeks as investors hunt for yield, according to MTN dealers. These banks could steal the spotlight from Nordic financial institutions, which have dominated the market this week.

Italy’s largest bank Intesa Sanpaolo is making its first foray into the offshore renminbi market, launching a five year bond on Wednesday.