◆ Italian issuer's first covered since June 2023 ◆ Demand for seven year tranche was pleasing, says one banker ◆ Scarcity helped demand for euro transaction
◆ Order book peaked at close to €2bn ◆ Issuer announced plan to launch ESN in May ◆ Analysts predict mixed fortunes for instrument in the immediate future
◆ 5bp of tightening is the ‘standard’, said banker ◆ NatWest’s covered slightly wider than tightest sterling this year ◆ Fifth covered on a Friday this year
