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Ministry of Economy and FinanceBTP Italia: placement closed at € 8.014 billion, 74.4 per cent of institutional investors’ demand allotted

Press Release N° 66 of 04/07/2016

The Ministry of Economy and Finance announces the placement result of the ninth BTP Italia, the government bond indexed to Italian inflation (FOI index, ex-tobacco - Indice dei prezzi al consumo per le famiglie di operai e impiegati al netto dei tabacchi), with maturity of 8 year.
For the new bond, with first accrual date April 11th, 2016 and maturity April 11th, 2024, the definitive annual (real) coupon rate is set at 0.40%, paid on a semi-annual basis. The settlement date coincides with the accrual date.

The amount issued has been of 8,014.368 million Euros and it coincides with the total turnover of valid purchase contracts concluded at par on the MOT (the Borsa Italiana’s screen-based market for securities and government bonds) through Banca IMI S.p.A. and UniCredit S.p.A. during the placement period, which started on April 4th, 2016 and ended today at 11 a.m..
In particular, during the First Phase of the placement period (dedicated to retail investors), from April 4th to April 6th, 2016, the number of contracts concluded has been 54,635 for a turnover of 4,214.368 million Euros.

During the Second Phase of the placement period (dedicated to institutional investors), which opened and closed today, the number of purchase proposals collected and executed has been 550 for an issued turnover of 3,800 million Euros against a total demand of 5,108.703 million Euros (allotment coefficient around 74.4 per cent).

Details regarding the demand composition, during the First and the Second Phase of the placement period, will follow in the next press release of the Ministry, that will be released tomorrow, April 8th, 2016.

The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America. The materials do not constitute an offer of securities for sale in the United States. The securities discussed herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “US Securities Act”) and the securities may not be offered or sold in the United States of America absent registration or an exemption from registration as provided in the U.S. Securities Act, and the rules and regulations thereunder. No public offering of securities is being or will be made in the United States of America. Accordingly, the securities are being offered, sold or delivered only to persons outside the United States in offshore transactions in reliance on Regulation S under the US Securities Act.

Rome 04/07/2016
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