LONDON, Feb 20 (IFR) - Banca Popolare di Vicenza has
launched a €1.25bn government guaranteed bond, having received
orders of around €2.5bn, according to a lead.
Lead managers Banca IMI and Morgan Stanley have set guidance
at 58bp over the 4.5% February 2020 BTP for the trade, which is
a partial remarketing of a €3bn 0.50% 2020 senior unsecured
The bookrunners started marketing the deal (BBB+/BBBH,
Fitch/DBRS) at 65bp area on Monday morning. This was then
revised to 60bp (+/-2bp).
The bond, issued and retained earlier this month, benefits
from a state guarantee. Leads are aiming to sell the notes later
(Reporting by Helene Durand, editing by Robert Smith)