Italian securitization is picking up even more speed as deals that have been structured following the passage of the country's securitization law begin to come to market.

As previously reported, the largest deal nearing launch comes from Inps, the Italian state pensions body. Morgan Stanley Dean Witter and Warburg Dillon Read are lined up against a consortium of JP Morgan, Deutsche Bank and Paribas in a beauty parade to decide who will underwrite the sale of E4 billion worth of bonds.

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