Exchange transaction via electronic trading system

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An exchange transaction via electronic trading system will be held on September 18, 2020.
One bond will be issued in exchange of up to four bonds to be bought back.

The following bond will be issued:

IT0005094088 BTP 01 Mar 2032 coupon 1,65 %

The issued nominal amount of the above mentioned bond will not exceed 2,000 million euros.

Basket of Government bonds for exchange transaction (subject to buyback) will be:

IT0004634132 BTP 1 Mar 2021 coupon 3,75 %
IT0004009673 BTP 1 Aug 2021 coupon 3,75 %
IT0005388928 CTZ 29 Nov 2021
IT0005137614 CCTeu 15 Dec 2022

The buyback prices of the bonds admitted for the exchange transaction, to be chosen within the above list, will be directly and exclusively visible on the electronic platform the auction day at 10 a.m. The exchange transaction will take place from 10 a.m. and finish no later than 11 a.m. of the same day. The allotment of the bond to be issued will take place at the price offered by each operator and accepted by the MEF.

Only “Specialists in Government Bonds” will be allowed to participate in the exchange transaction. No placement fee will be paid forthe transaction.

The transaction will be settled on September 22, 2020.