Introduction sectionBTP Italia: New issuance with 8 year maturity starting from october the 21st

BTP Italia: New issuance with 8 year maturity starting from october the 21st

The Ministry of Economy and Finance (MEF) announces that the next issuance of BTP Italia, the government bond indexed to the national inflation rate conceived for retail investors, will take place from Monday, October the 21st until Wednesday, October the 23rd 2019 and in this case it will have a 8 year maturity, as already done in the past. The next BTP Italia on offer will have the same characteristics of the previous issuances.
The bond will be placed through MOT, the retail Borsa Italiana’s screen-based market, in two phases: unlike the previous issuances, the First Phase will take place during two rather than three days, from Monday, October the 21st to Tuesday, October the 22nd (in case of early closing the First Phase may end on Tuesday at 1.30 p.m., subject to communication at the closing of the previous day), where only individual investors and other persons similarly classified are admitted; the Second Phase, which will take place in the morning of October the 23rd, will be reserved to institutional investors.
In case total orders coming from the latter are greater than the final supply decided by the MEF, an allotment procedure will be activated.
On the contrary, for individual investors and other persons similarly classified there will not be any rationing, as incoming orders will be fully fulfilled, as in all the previous issuances.

The guaranteed minimum annual real rate of this new issuance will be communicated to the public on Friday, October the 18th, 2019, and the definitive annual real rate will be communicated in the morning of October the 23rd, before the opening of the Second Phase.

In the coming days, the MEF will publish on the website of the Public Debt the term sheet for the new bond and it will update the FAQ to provide investors and market operators with all the necessary information in order to take part in the forthcoming placement.

More information can be requested at: dt.gruppo.info@tesoro.it

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