Italy
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Italian cosmetics firm to price IPO in lower half of range -
Monte not mentioned in presentation but brought up by analysts
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Investors consider feasibility of state recap amid uncertain future
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The Italian cosmetics manufacturer is seeking a valuation of up to €1.33bn
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Italian companies, accustomed to playing lenders off against each other, are looking for alternatives
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Tier twos trade violently as deadline for UniCredit deal draws closer
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Cooperative lender paid up to ensure sub-benchmark size
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Potential for negative net supply driving demand for paper in senior formats
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Troubled Italian lender unveils plan to issue first covered bond in over six years, in what could be a prelude to a capital increase and acquisition
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Banks are seeing light at the end of the tunnel as they emerge from major cost cutting exercises at the same time as economies around the world begin to emerge, erratically, from pandemic restrictions. Now the question is whether there will be enough capital markets business to go around.
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Banca Monte dei Paschi di Siena’s tier twos are see-sawing in the secondary market, as investors try and determine the fate of the bonds following merger interest from UniCredit.
