Cultivating a trend, the Italian state institution for compulsory insurance against accidents and illness, INAIL Societa di cartolarizzazione p.A., has closed a EURO1.35 billion deal (USD $1.2 billion), similar to a Lit8 trillion (USD $4.35 billion) deal that was completed in 1999 by the Italian state pensions agency, Instituto Nazionale della Previdenza Sociale (INPS).

INPS launched the initial deal of this kind last November and announced that it planned to launch a series of deals worth at least EURO8 billion over the next three years. At the same time, the treasury announced it was looking to arrange the INAIL transaction. More recently, the Italian government has also given the mandate to investment banks to arrange the second transaction from INPS.

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