Deutsche Bank and Morgan Stanley are among a group of four banks that have missed out on around €2.5m ($2.7m) in fees after Parmalat, the Italian food and drink company, cancelled plans for a bond worth up to €500m.

Parmalat, one of the most well-known Italian companies in the European bond market, was forced to pull the deal on Thursday after concern about its cash position and possible acquisition plans drove a 25% slump in its share price and caused its credit default swap spreads to widen by 200 basis points (bps).