Italy just did something it hasn’t done in roughly six years: issue bonds denominated in US dollars. The country’s Ministry of Economy and Finance announced a triple-tranche bond syndication on July 6, marking its first foray into dollar debt since the pandemic era around 2020.
The deal structure
The offering comes in three tranches with maturities spanning the yield curve. The bonds mature on July 14, 2031, July 14, 2036, and July 14, 2056.
The lead managers read like a who’s who of global investment banking: BofA Securities Europe SA, Citigroup Global Markets Europe AG, Goldman Sachs Bank Europe SE, and Morgan Stanley Europe SE.
Specific pricing and deal size haven’t been disclosed yet.
