Montepio to satisfy lust for southern European supply

摘要

caixa economica montepio geral will be the latest Southern European issuer to try its hand at a 10-year covered bond, SantanderTotta and UBI Banca having delivered some of the sector's strongest recent transactions. Italy's ubi banca last week rode on the coattails of Banco Santander Totta's 10-year issue (Al/A/A), which drew more than €3.25bn of demand as investors snapped up the high spread on offer. Totta's deal priced at swaps plus 48bp.