Calyon was joint lead manager and joint bookrunner along with Crédit Suisse, ING, JPMorgan and Unicredit Group (HVB) for this transaction. This operation is the first 30-year syndicated transaction issued by a European Government since the beginning of the financial crisis in 2007.

The excellent level of the demand (in excess of EUR 10 billion) and the high quality of the book (75% straight orders from real money account) have determined the right conditions for the issuer to increase the size to EUR 6 billion. The maturity date of the transaction is September 1^st, 2040.
 

“The sovereign achieved a very successful deal. The distribution of the issue demonstrates the global appeal of the sovereign with over 65% placed outside Italy, with the participation of the UK, Benelux and France of particular significance. The quality of the execution and the strong cooperation between the pool of bookrunners made this deal one of the best performance ever obtained by the Republic in the Debt Capital Markets. The performance of the transaction has deeply strengthened our intimacy with the client.” said Michele Rolleri, Senior Banker.