Tuesday, July 21, 2015

STEP 1-B to launch covered bonds five years, return to MS + ‘low’ 20 pb – IFR – Reuters Italy

(Update guidance)

LONDON / MILAN, July 21 (Reuters) – It was revised in area 20 basis points above the mid-swap rate, after a first indication this morning to ‘low’ 20 bp, the yield guidance for the new covered bonds in euro launched five years this morning by Banca Popolare dell’Emilia Romagna.

The service refers Ifr Thomson Reuters, adding that shortly after 11 o’clock orders amounted to about one billion.

The pricing is expected during the day.

Issuers Italians have reappeared on the capital market did after more than a month to stop the activity related to the financial turmoil generated by the Greek crisis.

The bond launched today by BPER is guaranteed 100% mortgage-Italian high quality and has an expected rating A1 by Moody’s.

The transaction is managed by Banca IMI, Credit Suisse, Raiffeisen Bank International, RBS and Societe Generale CIB.

On the site www.reuters.it other news Reuters in Italian. The top news also on www.twitter.com/reuters_italia

© Thomson Reuters 2015 All assigns rights to Reuters.

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