Orders for the 2-year covered bond launched this morning by Intesa Sanpaolo exceeded the 12 billion euro threshold. The reports post-sales service Thomson Reuters IFR.
The yield guidance for the issue was lowered to around 110 basis points above the midswap rate (+/-2 bps) after an initial indication this morning in the 115 bps area. Pricing of the bond is expected during the day. The banks in charge of managing the operation are IMI, Barclays, HSBC, Societe Generale Cib and Unicredit.
In the early afternoon the title Intesa Sanpaolo gains 0,41% in Piazza Affari, bordering on the threshold of 2 euro per share.
