By Sarka Halas
LONDON, May 14 (IFR) - The Republic of Italy has opened books on its new March 2030 euro benchmark bond, according to one of the lead managers on the deal.
Guidance is 12bp to 14bp over the BTP 4.75% September 2028, tighter than the 14bp area initial pricing thoughts announced on Tuesday afternoon.
Indications of interest are in excess of 7bn, including 3bn of joint lead manager interest.
The sovereign mandated Deutsche Bank, HSBC France, JP Morgan Securities, Monte dei Paschi di Siena Capital Services and Royal Bank of Scotland for the transaction, which will be priced later today.
Italy is rated Baa2/BBB/BBB+ (stable/negative/stable).
(Reporting by Sarka Halas, editing by Julian Baker)