February 10, 2025 12:54 GMT
EGB SYNDICATION: 15-year BTP mandate
EGB SYNDICATION
"The Republic of Italy has mandated Barclays Bank Ireland PLC, Deutsche Bank A.G., Intesa Sanpaolo S.p.A., Morgan Stanley Europe SE and Nomura Financial Products Europe GmbH for a new syndicated 15-year BTP due 1st October 2040. The transaction will be launched in the near future subject to market conditions."
"Therefore, the auctions of BTPs longer than 10 years scheduled for the 13th of February 2025 will not take place."
- This was exactly in line with our expectations. We had flagged a 15-year syndication for this week and we pencil in a size of E8-10bln with the transaction tomorrow.
- We had also expected the cancellation of the 15+ year auction on Thursday.
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