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Contenuto principale

- Second Quarter 2015 Issuance Program

Press release N° 71 of 03/25/2015

The Ministry of Economy and Finance announces that during the second quarter of 2015 the following new securities will be issued:

CCTeu 15th December 2014 – 15th June 2022      Minimum final outstanding: 9 billion Euros
BTP      15th April 2015 – 15th May 2018                Minimum final outstanding: 9 billion Euros
BTP      1st May 2015 – 1st May 2020                      Minimum final outstanding: 10 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 second quarter, according to market conditions.

Further tranches of the following on-the-run securities will be issued too:

CTZ     26th February 2015 – 27th February 2017
BTP     1st December 2014 – 1st December 2019     coupon 1.05%
BTP     16th February 2015 – 15th April 2022             coupon 1.35%
BTP     2nd March 2015 – 1st June 2025                      coupon 1.50%

Moreover, according to market conditions, the Ministry of Economy and Finance reserves the right to reopen medium and long-term instruments, nominal – fixed rate and floating (CCTeu) - and inflation linked, including off-the-run instruments, in order to ensure secondary market efficiency.

The Treasury will place medium and long term securities, nominal – fixed rate and floating (CCTeu) – and inflation linked (BTP€i), through the usual uniform-price (marginal) auction mechanism and it will discretionally set the price and the issuance amount.
 

Rome 03/25/2015
IT