Introduction sectionHigh participation for the first placement of the Btp Futura: above € 6 billion issued with more than 174 thousand of contracts
High participation for the first placement of the Btp Futura: above € 6 billion issued with more than 174 thousand of contracts
174.318 contracts concluded for a turnover of 6,132.260 million Euros.
These are the numbers of the BTP Futura issuance, the first government bond targeted only to retail investors, with maturity of 10 years, aimed at financing measures related to the post COVID-19 recovery.
During the placement period, out of 174,318 contracts concluded on the MOT (the Borsa Italiana’s screen-based market for securities and government bonds) around 64 per cent of them had a size of less than 20,000 Euros, while considering contracts up to 50,000 Euros, they were around 89 per cent of the total. The average size of the contracts has been of 35,179 Euros.
About 60% of the subscribers of BTP Futura have not participated to the last BTP Italia issuance, recording an important increase of the direct participation of Italian retail investors.
For the new bond, with first accrual date as of the 14th of July 2020 and maturity date as of the 14th of July 2030, the series of definitive annual nominal coupon rate, paid on a semi-annual basis, is confirmed at 1.15% for the first 4 years, 1.30% for the following 3 years and 1.45% for the last 3 years of the bond’s life. The settlement date coincides with the accrual date.