Italy

◆ First out of three Belgian euro syndications proved a hit ◆ Usual 2bp premium paid ◆ Italy to follow with potential €20bn deal

◆ Italian covered supply returns after four month absence ◆ Crédit Agricole Italia set to reopen long end of the curve ◆ Deal expected to come inside BTPs

Maire subsidiary will use loan for M&A and research

Missing Italian giants expected back in the OBG market next year

Company made its first foray into sterling bonds last week

Cable company goes big on short tranche in M&A related trade

Snam, Worldline and Gelf ready deals as European IG corporate market surprises with busy activity

Banco BPM scoops 5% of Monte dei Paschi from the state

◆ Appetite for credit attracts trio to senior market despite weaker backdrop ◆ But face-to-face execution between two similar deals underlines limits for non-major global bank issuers◆ UniCredit diversifies funding with rare floater

◆ Dual-tranche deal attracts €200bn of orders ◆ New seven year was somewhat unexpected ◆ Bookbuilding started with 4bp of premium

Loan is linked to emissions reductions

BNP Paribas took Pirelli and Citi took Renk as shareholders exited and trimmed stakes on Tuesday night