Simmons has advised Dealers Banca IMI, BNP Paribas, MPS Capital Services Banca per le Imprese S.p.A. and Unicredit S.p.A., as well as Co-Dealers Banca Akros, Banca Sella and ICCREA Banca on the new record-breaking, five-year €22.3 billion BTP Italia indexed to Italian inflation (not including tobacco).
The issuance will be entirely allocated to the extraordinary economic measures that the Italian government is implementing to tackle the effects of the COVID-19 pandemic. This is the largest issuance ever and is an historical record for a single issuer, beating the previous 2013 record also attributable to the Italian Republic.
The new bond was placed on the market through Borsa Italiana’s electronic bond market (MOT) platform in two phases: the first for retail investors, and the second for institutional investors.
The Simmons team was led by Paola Leocani, supported by associates Ilaria Barone and Martina Zito.
