Pop Milano to issue 1 bln euro covered bond-sources

MILAN, June 13 (Reuters) - Italy's Banca Popolare di Milano (PMII.MI) will launch in the near future a 1 billion euro ($1.54 billion) covered bond, which is likely to the first such issue by an Italian bank, market sources told Reuters on Friday.

"The roadshow to present the issue to investors should start at the end of next week," one of the sources said.

The issue is part of a 5 billion euro programme which Pop Milano had planned to start between June and July.

"The size of the first issue is one billion euros," another source said.

So far in Italy only state-controlled financing agency Cassa Depositi e Prestiti has issued covered bonds -- special debt instruments secured both by the issuer and by a pool of mortgage or public sector loans.

(Reporting by Valentina Za)