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Contenuto principale

- DETAILS ON THE NEW 15 YEAR BTP PLACEMENT

Press release N° 11 of 01/16/2013

The Ministry of Economy and Finance announces the placement details of the new 15-year BTP, maturing on the 1st September 2028, with a 4.75% coupon.

Around 250 investors have taken part to the transaction with a total amount requested of more than 11 billion Euros. About 35% of the issuance has been allocated to asset and fund managers, while banks have been allotted more than 26%. Long-term horizon investors have received about 30% of the placement (with pension funds and insurance companies accounting for 19% and central banks/official institutions for 10%) while the share allotted to hedge funds has been of 8%.

The placement has seen a significant participation of Italian investors who were allocated slightly less than 40% of the transaction. Also relevant has been the presence of investors resident in the UK (29%). The rest of issuance has been placed mainly in continental Europe, in particular in Germany (almost 9%), in France (8%), in Scandinavian countries and Benelux (5%). Meaningful participation of U.S. investors who have been allocated more than 6% of the issuance against a demand around 11% of the total amount requested. To be noted is also the placement of 1% of the issuance to investors resident in the Middle East.

The bond has been placed through a syndicate structured with five lead managers, Banca IMI SpA, Barclays Bank PLC, Crédit Agricole Corp. Inv. Bank, Goldman Sachs Int. Bank, Jp Morgan Securities PLC, while the remaining Specialists in Italian Government Bonds participated as co-lead managers.

Roma 01/16/2013
IT