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EGB SYNDICATION: Italy 10-year Aug-35 BTP / 20-year Apr-46 Green BTP Mandate

EGB SYNDICATION
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  • "The Republic of Italy has mandated Banca Monte dei Paschi di Siena S.p.A, BNP Paribas, Citibank Europe Plc, Crédit Agricole Corp. Inv. Bank, NatWest Markets N.V. and UniCredit S.p.A for a dual tranche syndicated issuance of a new 10-year BTP due 1 st August 2035 and a €5 billion no-grow issuance of a new BTP Green due 30th April 2046." Source: MEF
  • We had noted that we thought there would be an Italian syndication this week and that we would see a new 10-year BTP launched in January (but we had thought the 10-year launch would be via auction and that we would have seen a 15-year via syndication this week).
  • We pencil in a transaction tomorrow with E10bln for the 10-year tranche in addition to the E5bln WNG size for the new green 20-year (the 20-year area was one we had highlighted as the potential for a new green BTP).
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  • "The Republic of Italy has mandated Banca Monte dei Paschi di Siena S.p.A, BNP Paribas, Citibank Europe Plc, Crédit Agricole Corp. Inv. Bank, NatWest Markets N.V. and UniCredit S.p.A for a dual tranche syndicated issuance of a new 10-year BTP due 1 st August 2035 and a €5 billion no-grow issuance of a new BTP Green due 30th April 2046." Source: MEF
  • We had noted that we thought there would be an Italian syndication this week and that we would see a new 10-year BTP launched in January (but we had thought the 10-year launch would be via auction and that we would have seen a 15-year via syndication this week).
  • We pencil in a transaction tomorrow with E10bln for the 10-year tranche in addition to the E5bln WNG size for the new green 20-year (the 20-year area was one we had highlighted as the potential for a new green BTP).