Benvenuto sul sito del Ministero dell’Economia e delle Finanze, conosciuto anche come Portale mef

Contenuto principale

- ISSUE of BOTs

Press release N° 172 of 11/06/2008

The MEF announces an auction of 10,500 million euro of BOTsfor 11 November 2008, with settlement date on 14 November 2008:

  Amount (in million euro) Maturity Days
Three-month 4,500 16.02.2009 94
One-year 6,000 16.11.2009 367

Please note that on 14 November 2008, BOTs for 9,500 million euro will reach maturity (of which 3,500 million euro are three-monthBOTs and 6,000 million euro refer to one-year BOTs).

BOTs are offered through a competitive auction and without indication of the minimum price by the Treasury.

Treasury bills are subscribable for a minimum amount of one thousand euro.

The prices indicated by dealers participating in auctions of BOTs, expressed in percentage terms, may vary by 0.001% or multiple thereof, in respect of all types of securities. Bids without price reference will not be admitted to auction.

Each bid will not be lower than one and a half million euro (1,500,000 €).

Dealers set forth in the decrees authorising the issuance of the BOTs are eligible for participation in the auction.

In implementation of the provisions set forth in Sec.II - Title V of Legislative Decree 24 June 1998, no. 213, on the dematerialization of Government bonds,BOTs are represented by account registrations entered in favour of the entitled.

The Banca d'Italia automatically enters the BOT amounts subscribed at auction and settles them through the clearing and settlement facility for financial instruments, entering the date of settlement as value date. On the basis of allocations, the broker allocatees will credit the related amounts to the subscribers' accounts.

Purchase bids - a maximum of three for each tranche -must be submitted to the Banca d'Italia strictly by means of the national Interbanking network, within and no later than 11am of 11 November 2008, in accordance with the procedure and provisions set forth in the issuance decrees.

Please note that should there be a malfunctioning of the system, thereby preventing the transmission of messages on the network, requests for participation in the auction must be sent via fax.

Bids received after the deadline set in the issuance decrees will not be considered. Bids in replacement of previously submitted requests will be taken into consideration only if they arrive by the afore mentioned deadline. Requests cannot be withdrawn after the afore mentioned deadline.

Should any dealer's bids exceed, including as a whole, the amount offered by the Treasury, they will be taken into consideration starting from the one at the highest price, up to the amount offered, unless otherwise provided for in the issuance decrees.

Outstanding BOTs at 31 October 2008 amounted to 164,683,166 million euro, of which 3,000 million euro refer to 165-day BOTs, 2,500 millioneuro refer to 120-day BOTs, 3,500 million euro refer to 92-day BOTs, 2,500 million euro to 76-day BOTs, 12,500 million euro to three-month BOTs, 60,526.5million euro to six-month BOTs and 80,156,666 million euro to one-year BOTs.

Rome 11/06/2008
IT