The Ministry of Economy and Finance announces that during the third quarter of 2011 the following new securities will be issued:
BTP 1st July 2011 - 1st July 2014 Minimum final outstanding: 9 billion Euros
BTP 1st Sept. 2011 - 1st March 2022 Minimum final outstanding: 12 billion Euros
BTP 15th Sept. 2011 - 15th Sept. 2016 Minimum final outstanding: 10 billion Euros
CTZ 30th Sept. 2011 - 30th Sept. 2013 Minimum final outstanding: 9 billion Euros
The minimum final outstanding refers to the overall issuance of the bond and therefore it relates to the minimum amount the bond shall reach before being replaced by a new benchmark.
The settlement date of the first auction of a new bond may not coincide with the interest accrual date.
New bonds, in addition to the above mentioned ones, could be issued during the third quarter, according to market conditions.
Further tranches of the following on-the-run securities will be issued too:
BTP 04/01/2011 - 04/01/2014 coupon 3.00%
BTP 04/15/2011 - 04/15/2016 coupon 3.75%
BTP 03/01/2011 - 09/01/2021 coupon 4.75%
CCTeu 04/15/2011 - 04/15/2018
CTZ 04/29/2011 - 04/30/2013
Moreover, according to market conditions, the Ministry of Economy and Finance reserves the right to reopen medium and long-term instruments, both nominal and inflation linked, including off-the-run instruments, in order to ensure secondary market efficiency.
The Treasury will place medium and long term securities, both nominal and indexed, through the usual uniform-price (marginal) auction mechanism and it will discretionally set the price and the issuance amount.