Banca Popolare di Vicenza is expected to price its first, and what will be its only, mortgage-backed deal of the year this week. The E409.65 million deal will be backed by residential and commercial mortgages. Pietro Cirenei, Banca Popolare di Vicenza's cfo, says, "We are a retail bank with a very consolidated market share in Northern Italy. We originate about E500 million in mortgages per year and fund that business through securitization, which gives us pricing advantages." Cirenei says the firm has no plans to securitize other assets. Schroder Salomon Smith Barney is arranging the deal.
Italian MBS Deal Due This Week