Press Release N° 168 of 11/13/2009
The Ministry of the Economy and Finance (MEF) announces that an exchange transaction will be held at the Bank of Italy on Wednesday 18 November 2009. The operation will be held through a marginal auction with discretionary determination of the price and quantity issued. The allocated amount will be determined by excluding offers presented at prices deemed inconsistent with market conditions.
Only "Specialists in Government Bonds" will be allowed to participate in the exchange offer. No placement fee will be paid for the transaction.
One bond will be issued in exchange of three bonds subject to buyback.
Offered bond: BTP 01-Aug-2014 coupon 4.25% (IT0003618383).
Bonds accepted for the exchange operation, subject to buyback:
- BTP 15-Jun-2010 coupon 2.75% (IT0003872923);
- BTP€i 15-Sep-2010 real coupon 0.95% (IT0003805998);
- BTP 01-Nov-2010 coupon 5.50% (IT0001448619);
The buyback prices of the bonds admitted for the exchange operation will be announced on the auction day at 10 a.m. The bids of the operators are to be transmitted to the Bank of Italy by 11 a.m. of the same day.
The transaction will be settled on 23 November 2009.