Allen & Overy (A&O) and Simmons & Simmons have advised on a €7.3bn (£6.1bn) Italian sovereign bond issue linked to domestic inflation.

The deal saw A&O take a lead underwriter role, advising Banca IMI and UniCredit on the structuring and documentation of the deal. Simmons advised the same banks on administrative and compliance aspects, while the Italian Treasury used its own in-house legal team.