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Ministry of Economy and FinanceExchange transaction via electronic trading system

Press Release N° 216 of 11/14/2013

The Ministry of the Economy and Finance (MEF) announces that an exchange transaction via electronic trading system will be held on November 18, 2013.
One bond will be issued in exchange of five bonds to be bought back.

Offered bond is the BTP 01 Dec 2018, coupon 3.50% (IT0004957574), i.e. the current 5 year on-the-run BTP.
This bond has been selected in order to guarantee the regularity of the issuance program, since the 5 year maturity will not be offered in the next ordinary auction to be held on November 28, in light of the reduced funding needs of this year end.

Basket of Government bonds for exchange transaction (subject to buyback):

  • IT0004568272      BTP 15 Apr 2015, coupon 3.00%
  • IT0004615917      BTP 15 Jun 2015, coupon 3.00%
  • IT0004880990      BTP 01 Dec 2015, coupon 2.75%
  • IT0004620305      CCTeu 15 Dec 2015
  • IT0004652175      CCTeu 15 Oct 2017

The buyback prices of the bonds admitted for the exchange transaction, to be chosen within the above list, will be directly and exclusively visible on the electronic platform at 10 am of November 18, 2013. The exchange transaction will take place from 10 am and finish no later than 11 am of the mentioned day.
The allotment of the bonds to be issued will take place at the price offered by each operator and accepted by the MEF.
Only “Specialists in Government Bonds” will be allowed to participate in the exchange transaction. No placement fee will be paid for this operation.
The transaction will be settled on November 21, 2013.
 

Rome 11/14/2013

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