THE STREAM of Italian regional banks heading for the Euro-MTN market continued this week when, following Banca Popolare di Bergamo's recent signing of a Euro-MTN programme, two more Italian regional banks have established issuance facilities. Banca Popolare di Brescia has signed a $1.5bn programme arranged by Morgan Stanley Dean Witter. It is one of the strongest regional banks in Italy, and was one of the first to obtain a rating, two years ago. It has recently been upgraded and is now rated Baa1/BBB+.
December 18, 1998