Intesa Sanpaolo

Greece's stand-off with its creditors has not quashed all FIG activity this week, with Intesa Sanpaolo issuing €782m of tier two and UniCredit buying back some subordinated debt of its own.

Telecom Italia raised gross proceeds of €796m from the IPO of Inwit, its telecom towers business, for which bookbuilding closed on the morning of Wednesday June 17.

Massimo Zanetti Beverage Group, the Italian coffee company, priced its IPO at the bottom end of the range early in the morning on Friday May 29, after a bookbuild that was slow but achieved a good result, according to a banker on the deal.

Massimo Zanetti Beverage Group, the Italian coffee company, looks set to price its IPO at the bottom end of the price range. The last official message on the book came at 1.15pm London time on Thursday May 28, saying guidance was €11.60, the bottom of the original range.

Intesa SanPaolo made a net profit of €1.1bn in the first quarter of 2015, driven by another record quarter of results from its corporate and investment banking arm, Banca Imi.

RCI Banque, the customer finance arm of French car maker Renault, on Wednesday issued a €750m 3.25 year floating rate note, continuing a run of issuance of short dated floaters by frequent issuers, which shows the product’s strong appeal to investors.

RCI Banque, the customer finance arm of French car maker Renault, today issued a €750m 3.25 year floating rate note, continuing a run of issuance of short dated floaters by frequent issuers.

French satellite group Eutelsat has refinanced €800m of loans with a syndicate of nine.

Prysmian, the unrated Italian cable maker, has issued a seven year bond, increasing the size from €600m to €750m thanks to robust demand.

French luxury goods holding company Kering has issued a €500m seven year bond.

Italian lender Intesa Sanpaolo, the second largest by assets in the country, closed its first Formosa deal on March 13, a 5.25% three year bond that raised Rmb425m ($67.9m).

A trio of issuers took advantage of a lack of senior supply this week to price deals with drastically reduced new issue premiums compared to January.