The Republic of Italy, which is selling €3bn ($2.6bn) of 15-year bonds, will broaden a segment of the euro-denominated Eurobond market with a deal that was three years in the making.

The European Eurobond yield curve runs out at 10 years, with few exceptions. The most recent issue was by RWE, the German utility that issued €500m of 15-year bonds in April as part of a larger deal in euros and sterling. Investors gave the longer-dated debt a warm welcome and bankers predicted more issuance in that maturity.