Introduction sectionDetails on the new 20 year BTP placement
Details on the new 20 year BTP placement
Around 260 investors have taken part to the transaction with a total amount requested in excess of 31.6 billion Euros.
Fund managers have been allotted for 45% of the total amount issued, while about 26.8% has been subscribed by banks.
Investors with a long-term investment horizon bought a relevant 17.2% of the placement (in particular, pension funds and insurance companies for about 12.1%, while central banks and official institutions for about 5.1%).
Hedge funds were allotted about 10.7% of the total amount issued, while the remaining 0.3% of the new bond has been placed to non-financial institutions (corporations).
In terms of geographical residence of investors, the placement has been extremely diversified with a relevant presence of foreign investors, that have been allotted for about 76%, with respect to the domestic ones, that bought the remaining 24% of the issuance.
Among foreign investors, the most relevant share has been allotted in the UK and Ireland (around 43.7%). The rest of the issuance has been placed mainly in continental Europe (about 28.9%), and in particular in France (8.6%), Germany/Austria (7.6%), Scandinavian countries (5.8%) and the remaining 6.9% in other European countries (among which the Iberian peninsula for 2.8%, Benelux for 1.7% and Switzerland for 1.6%). Outside Europe, North America (US and Canada) investors have received around 2.9% of the amount issued, while the remaining 0.5% has been allotted to Asian investors.