Eurobonds

The Eurobond desk acts as a market maker in non-government bonds, providing liquidity and competitive bid/offer prices, in order to meet the needs of the bank’s institutional clients.

 

The desk operates on both the OTC market, via Bloomberg under the acronym AKRO, and as a market maker on EuroTlx and Hi-Mtf, the main Italian multilateral trading facilities (MTF).

 

The instruments traded, both investment grade and sub-investment grade, are plain vanilla (fixed, floaters, and zero coupon) and structured issues (inflation linked, constant maturity swap, step-up, steepener, ratched, capped and floored, reverse floater).

 

The sectors covered by the desk are: automotive, industrials, utilities, banks and financials, supras & sovs;  over 700 securities in both euros & dollars.

SOME BENCHMARK SECURITIES – ITALIAN ISSUERS

Indicative prices as at 01-10-2018

SecurityISINMid PxMid YtM (%)
A2a 4.375% 01/2021XS0951567030
Banco Popolare 3.5% 03/2019XS1044894944
Enel 4.75% 06/2018XS0170343247
Enel 5.25% 05/2024XS0192503695
Eni 2.625% 11/2021XS0996354956
Fiat 3.75% 03/2024XS1388625425
Fiat 7.375% 06/2018XS0647264398
Intesa 1.125% 03/2022XS1197351577
Intesa 3.928% 09/2026XS1109765005
Leonardo-Finmeccanica 4.5% 01/2021XS0999654873
Saipem 3.75% 09/2023XS1487495316
Salini 3.75% 06/2021XS1435297202
Snam 3.875 03/2018XS0829183614
Telecom Italia 5.25% 02/2022XS0486101024
Unicredit 2% 03/2023XS1374865555
Unicredit 4.375% 01/2027XS1426039696

 

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