The Ministry of Economy and Finance announces that on September, 7, 2011 a buy back competitive auction on its outstanding securities will take place at Bank of Italy.
For this buyback transaction the amounts available on the Government Bond Sinking Fund will be
used up to a maximum amount of 1,400 million euros.
The auction will be referred to the following securities:
BTP €i 15 September 2023, real coupon 2.60%, ISIN code IT0004243512
CCT 1º July 2016, ISIN code IT0004518715
BTP 15 April 2012, coupon 4%, ISIN code IT0004220627
The Specialists in Government bonds will be allowed to submit up to three offers for each security that shall be sent electronically, on September, 7, before 11:00 a.m., to the Bank of Italy through the National Interbank Network, according to the terms and conditions applied to the auction repurchase of Government bonds.
Offers must be comprehensive of nominal amount and price of the securities on repurchase.
The prices indicated may vary by a minimum amount of 1 thousandth and the nominal amount of each offer shall not be less than 1 million euros.
Buyback transaction shall be settled on September, 12, 2011.
The Ministry retains the option to reject the offers whose prices are considered not convenient.