Commentary & Deal Flow

Crédit Agricole Italia SpA (country: IT), with covered bonds expected to be rated Aa2 by Moody's, has mandated Crédit Agricole CIB as Global Coordinator and BBVA, Crédit Agricole CIB, Erste Group, Mediobanca, Raiffeisen Bank International and Santander as Joint Bookrunners to lead manage its forthcoming offering. An investor presentation is available.

An expected € Benchmark, 11-year (due June 2037), Reg S Bearer, soft-bullet Obbligazioni Bancarie Garantite - European Covered Bond (Premium) offering will be launched and priced in the near future, subject to market conditions.

The covered bonds are backed by 100% Italian residential mortgages and are expected to be ECB Eligible, LCR Level 1, with beneficial treatment under CRR Art.129 and Solvency II, and is ECBC Covered Bond Label Compliant. FCA/ICMA stabilisation applies.