Italy
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UniCredit has named Andrea Maffezzoni head of strategy and M&A, a role formerly occupied by Marina Natale.
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Crédit Agricole Cariparma priced the first Obbligazioni Bancarie Garantite of the year on Tuesday, with the two part long-dated transaction attracting demand of almost €3bn and printing at a record spread through BTPs.
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Crédit Agricole Cariparma is expected to issue the first Italian covered bond of the year after it mandated leads for an eight and 12 year which is likely to be launched on Tuesday. The offering takes advantage of technically squeezed market conditions exacerbated by the lack of peripheral European supply. -
The revival of banks using securitization to free up regulatory capital could open new possibilities for accelerating the financing of a greener economy, as a ground-breaking deal demonstrated this week, write Jon Hay and David Bell.
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Unione di Banche Italiane (UBI) successfully joined a run of tier two issuance from peripheral banks on Wednesday, though the deal’s healthy premium suggested there was still caution around Italian financial institutions in the market.
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Italy drew a more than a twice oversubscribed book on Tuesday and priced well inside guidance as it brought its second syndication of the year, a €3bn May 2028 inflation-linked BTP.
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Necta & Wittenborg Global Vending (N&W), the Italo-German maker of vending machines owned by private equity firm Lone Star, privately tapped its 2023 secured notes this week to fund the acquisition of peer Saeco.
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Five new IPOs were announced in EMEA this week as the market enters a crucial window in the run-up to Easter.
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Italy has mandated banks for its second syndication of the year, after a month in which its spread to closest peer Spain has tightened.
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Another piece in the pre-Easter IPO jigsaw was revealed on Friday morning when UniEuro, the Italian retailer of consumer electronics and appliances, began investor education for its IPO on Borsa Italiana.
