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Ministry of Economy and FinanceBTP Italia: placement closed above € 5.2 billion 90.3 per cent of institutional investors’ demand allotted

Press Release N° 177 of 10/20/2016

The Ministry of Economy and Finance announces the placement result of the tenth BTP Italia, the government bond indexed to Italian inflation (FOI index ex-tobacco, Indices of Consumer Prices for blue and white-collar households with the exclusion of tobacco), with maturity of 8 years.
For the new bond, with first accrual date October 24th, 2016 and maturity October 24th, 2024, the definitive annual (real) coupon rate is set at 0.35%, paid on a semi-annual basis. The settlement date coincides with the accrual date.
The amount issued has been of 5,219.918 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 BNP Paribas and Monte dei Paschi di Siena Capital Services Banca per le Imprese S.p.A. during the placement period, which started on October 17th, 2016 and ended today at 11 a.m..
In particular, during the First Phase of the placement period (dedicated to retail investors), from October 17th to October 19th, 2016, the number of contracts concluded has been 31,019 for a turnover of 2,219.918 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 293 for an issued turnover of 3,000 million Euros against a total demand of 3,321.465 million Euros (allotment coefficient around 90.3 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, October 21st, 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The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America.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 10/20/2016

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