Italy
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First outing for Italian company tipped to herald wave of fresh hybrid names -
◆ Investors pour in €270bn of orders for new BTPs ◆ 10 year book a record for sovereigns ◆ Next up, Portugal
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◆ Italian firm attracts €7bn peak book ◆ Deal lands up to 20bp through govvies ◆ However, high single digit premium still needed
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Lufthansa's low rated hybrid gets less enthusiastic reception than Enel's but still garners ample demand
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◆ First out of three Belgian euro syndications proved a hit ◆ Usual 2bp premium paid ◆ Italy to follow with potential €20bn deal
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◆ Italian covered supply returns after four month absence ◆ Crédit Agricole Italia set to reopen long end of the curve ◆ Deal expected to come inside BTPs
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Maire subsidiary will use loan for M&A and research
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Missing Italian giants expected back in the OBG market next year
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Company made its first foray into sterling bonds last week
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Cable company goes big on short tranche in M&A related trade
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Snam, Worldline and Gelf ready deals as European IG corporate market surprises with busy activity
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Banco BPM scoops 5% of Monte dei Paschi from the state
