Italy

It was shaping up to be a healthy week for euro issuance in the SSA market until a rumour about the European Central Bank planning to “taper off” its asset purchase programme ruined the vibe.

Italy joined the ultra-long borrower club on Tuesday, attracting more than €18.5bn of demand for its first ever 50 year syndication.

The Spanish bank has mandated leads for a roadshow to market what will be its first covered bond in six years.

Italy announced on Monday the banks to lead its first ever 50 year syndication, a bond planned since May.

Italy’s Credito Valtellinese (Creval) is fielding interest for a new tier two transaction, despite uncertainty around the country’s non-performing loan problem and the upcoming referendum on constitutional reform.

Korea Housing Finance Corp and Cariparma Crédit Agricole have hired lead managers to arrange investor meetings, with a view to issuing covered bonds in dollars and euros, respectively.

Worries over an upcoming Italian constitutional referendum have driven a wedge between Italy and Spain’s sovereign bond curve, which is at a level not seen since January 2015, according to Société Générale.

Worries over an Italian constitutional reform referendum have driven a wedge between Italy and Spain’s sovereign bond curve, which is at a level not seen since January 2015, according to a note from Société Générale.

Italian spirits company Gruppo Campari has signed a €300m three year term loan with three banks to repay US private placement notes signed in 2003 and 2009, in an effort to reduce its funding costs.

Korea Housing Finance Corp and Cariparma Crédit Agricole have hired lead managers to arrange investor meetings, with a view to issuing covered bonds in dollars and euros, respectively.

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Italian real estate company Beni Stabili signed a €710m facility on Thursday backed by its key Telecom Italia assets.