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(Correct order book size in headline)
By Matt Painvin
LONDON, March 7 (IFR) - Order books for the Republic of Italy's May 2028 eurozone inflation-linked bond are approaching €6bn, according to a lead.
The spread guidance has been revised to 11-12bp over BTPei 3.10% September 2026 BTPei, the tight end of the 13bp area initial price thoughts set earlier on Tuesday. The trade will price within that range.
Deutsche Bank, JP Morgan, MPS Capital Services, Societe Generale and UBS were mandated for the deal on Monday. The €6bn book included €725m of joint-lead manager interest and €400m pf co-lead orders.
Books will close at 1pm GMT. The 144A/Reg S notes will be priced today. The bond is linked to the eurozone HICP ex-tobacco inflation index.
Italy is rated Baa2 negative/BBB- stable/BBB+ negative/BBBH stable. (Reporting by Matt Painvin, Editing by Helene Durand)