Italy

A eurozone periphery sovereign drew a hefty book for an inflation linked benchmark on Wednesday, paving the way for other countries from the region to bring deals, according to SSA bankers.

The European Central Bank has beaten a case against it by a group of Italian investors claiming damages over the 2012 restructuring of Greek debt.

The SSA pipeline is in full flow mid-week with a series of strongly supported deals, despite Ontario on Monday pulling a euro benchmark — the first pulled public sector deal in nearly a year.

Raiffeisenlandesbank Niederösterreich-Wien and Banca Carige have mandated leads for covered bond roadshows that will start in early October.

UniCredit has hired Banca Monte dei Paschi di Siena’s former chief financial officer, who resigned from the troubled lender last month.

Italy’s five and 10 year borrowing costs dropped to their lowest levels since April on Tuesday, as the sovereign hit its maximum volume target of €8bn at a bond auction.

Poste Italiane, the Italian state-owned post office, launched on Monday the investor education phase of its long-awaited, mammoth-sized initial public offering in Milan.

Spain is enjoying a strong warm-up for a debt auction this week, as its yields fell faster than its eurozone periphery peers following a Catalonian election where independence parties won just under 50% of the vote.

Banca Carige has appointed leads for a roadshow to market a prospective covered bond deal that does not currently have an investment grade rating from Moody’s.

Investors could have their first chance in two months to buy tier two debt from a periphery bank as early as Friday, after Banca Popolare di Vicenza hired leads for a 10 year non-call five.

Sorgente Real Estate System, the Italian property company, today launched its initial public offering in Milan, according to a banker on the deal.

The second Greek general election of the year has returned a much more market friendly result than the first one, and SSA bankers are hopeful that a prevailing calm in the euro market could lead to some deals.