Italy's Banco Agricola Mantovana (BAM) recently brought to market the largest collateralised bond obligation (CBO) to come out of Europe.

Called Gonzaga Finance, the EURO748.6 million ($642.9 million) deal securitizes a portfolio of over 80 bonds and credit default swaps and is the first public-funded CBO to be launched under the Italian Securitization Law. BNP Paribas and Finanziaria Internazionale were brought in to arrange the transaction for which Paribas also acted as bookrunner.

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