Introduction section Public Debt, details on the new 20 year BTP placement
Public Debt, details on the new 20 year BTP placement
The Ministry of Economy and Finance announces the placement details of the new 20-year BTP, maturing on the 1st March 2040, with a 3.10% coupon.
Around 230 investors have taken part to the transaction with a total amount requested of almost 24 billion Euros.
Fund managers have been allotted for around 49% of the total amount issued, while about 30% has been subscribed by banks. Investors with a long-term investment horizon bought a significant 9% of the placement (in particular, pension funds and insurance companies for about 6%, while central banks and official institutions for about 3%).
Hedge funds were allotted about 12% of the total amount issued.
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 64%, with respect to the domestic ones, that bought the remaining 36% of the issuance..
Among foreign investors, the most relevant share has been placed in the UK (around 37%). The rest of the issuance has been distributed mainly in continental Europe (about 23%), and in particular in Germany/Austria/Switzerland (9%), Spain (5%), Scandinavian countries (4%), France (2%), while the remaining 3% has been placed in other European countries (among which the Portugal with 1% has been the most relevant). Outside Europe, US investors have received around 2% of the amount issued, while the remaining 2% has been allotted to Asian and to investors coming from America (mainly Canada and Mexico).