Italy
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Deal brings company's sustainability-linked funding to €1bn -
The Italian payments company has maturities coming due in 2026 and 2027
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The trade drew good demand after a slow week for covered bond issuers
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A wave of deals promises to redraw Italy’s banking landscape, pitching financial titans against politicians and offering advisers with a chance to burnish their credentials
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◆ Bank's second public deal lands tighter than its debut ◆ Deal size set early 'to give clarity' ◆ Minimal attrition in order books
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The loan will have KPIs including the percentage of the company's capex aligned with the EU taxonomy
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Deal lands close to fair value but orderbook attrition remains high
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Banker says Italian deal 'could have priced at the top end'
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◆ Skinny new issue premium ◆ Deal 10 times covered ◆ Pricing with EU not a challenge
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The company is believed to have added three institutions to its lending roster of relationship banks
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◆ Three big SSA syndications scheduled for Tuesday ◆ EU and Italy on the same day, again ◆ UK to bring second to last syndication this FY
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◆ Big size and big book ◆ Transaction's success 'above expectations' ◆ Spread to mid-swaps appealing to investors
