January 15, 2013 / 9:56 AM / 5 years ago

UPDATE 3-Italy set to price new EUR6bn 15-yr bond

(Adds bond size)

By John Geddie

LONDON, Jan 15 (IFR) - The Republic of Italy (Baa2/BBB+/A-) is set to price a new EUR6bn 15-year bond at 30bp over its 4.5% March 2026 deal, after orders topped EUR11bn, banks managing the deal said on Tuesday.

Banca IMI, Barclays, Credit Agricole, Goldman Sachs and JP Morgan set official guidance at the low 30s over the reference bond when books opened earlier on Tuesday.

Initial marketing at a spread of plus 35bp area turned up EUR6bn of interest before books formally opened, banks said.

The deal will price later on Tuesday, marking Italy’s first syndicated conventional bond issue since September 2010. (Reporting By John Geddie, editing by Julian Baker)

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