Italy
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◆ Next to no premium needed for capped sale ◆ Demand holds firm despite price tightening ◆ Popular deal broadens investor base -
Italy's largest listed investment bank is in the middle of an ambitious plan to be profitable across the economic cycle
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Ship company will raise a total of €500m in new capital after it acquired part of defence company Leonardo
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New issue premiums are minimal again
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Issuers both land big books as market quickly shrugs off French election volatility
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◆ MPS to launch a new covered format ◆ Infrequent and higher yielding issuer suggests market is 'stable and open' after French elections ◆ A 'few other' covereds are in the pipeline
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Market expected to shut after Wednesday as UK elections and US holiday loom
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Mandates hit screens later in the day than usual after National Rally’s soaring popularity in France
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Renewable energy company sees four times demand for €500m no grow
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Higher rated DSM also has smooth ride, as corporate market continues to pump out solid trades
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◆ Pair met investors last week ◆ Volatility dampens covered bond supply ◆ Market would like ‘frequent issuer’ reopener
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The wallcrossed deal was oversubscribed before it was launched
