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Italy 20y mandate

EGB SYNDICATION
  • "The Republic of Italy has mandated Barclays, BNP Paribas, Citi, Goldman Sachs Bank Europe SE and IMI-Intesa Sanpaolo to joint lead manage a new BTP with maturity date 1 September 2043. The transaction is expected to be launched in the near future subject to market conditions." From market source
  • Note that MNI had flagged that we expect an Italian syndication this week in our EGB Issuance, Redemption and Cash Flow Matrix publication last week.
  • We also think that there is a good chance that the 15-50-year auction is skipped on Thursday (with just 3/7-year BTPs on offer).

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