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Ministry of Economy and FinanceExchange transaction via electronic trading system

Press Release N° 110 of 06/15/2016

The Ministry of the Economy and Finance (MEF) announces that an exchange transaction via electronic trading system will be held on June 17, 2016.

One bond will be issued in exchange of up to five bonds to be bought back.

Offered bond is the BTP 01 May 2023, coupon 4.50% (IT0004898034).

In order to ensure an efficient impact on the secondary market and for the purpose of managing the government bonds’ redemption profile, the issued nominal amount of the above mentioned bond will not exceed 2,000 million euros.

Basket of Government bonds for exchange transaction (subject to buyback):
IT0005089955 CTZ 27 Feb 2017
IT0004809809 CCTeu 15 Jun 2017 IT0003242747 BTP 01 Aug 2017, coupon 5.25%
IT0004273493 BTP 01 Feb 2018, coupon 4.50%
IT0004907843 BTP 01 Jun 2018, coupon 3.50%

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 June 17, 2016. 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 June 21, 2016.

Rome 06/15/2016

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