Still on its record setting pace, the Italian securitization market continues to pave the way for innovative securitizations. According to Moody's Investors Service, Italian ABS volume is set to reach 30 billion this year. The latest flavor: Treasury securitizations.
On the cusp of last month's lottery securitization, a pending real estate deal is expected to topple the 6 billion mark. The maximum limit decreed by the government summarizes the presumed value of its property holdings and lies in the vicinity of 20 billion, said one analyst. So far, details on the deal are scarce, and it has reportedly encountered several delays. Bids were expected to be taken sometime late last week, but sources said that would be unlikely; as the lotto securitization had only progressed to the selection process, it might be difficult for the banks to be in two places at once.