Browsing

Main content

Ministry of Economy and FinanceThird Quarter 2017 Issuance Program

Press Release N° 111 of 06/27/2017

New bonds to be issued

The Ministry of Economy and Finance announces that during the third quarter of 2017 the following new securities will be issued:
BTP     08/01/2017 – 08/01/2022      Minimum final outstanding:  10 billion Euros
BTP     09/15/2017 – 11/15/2024      Minimum final outstanding:  10 billion Euros
BTP     07/04/2017 – 08/01/2027      Minimum final outstanding:  12 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 third quarter, according to market conditions.

Reopenings of  outstanding bonds

Moreover, during the same quarter further tranches of the following on-the-run bonds will be issued too:

BTP                04/18/2017 – 06/15/2020       coupon 0.35%
BTP                03/01/2017 – 04/01/2022       coupon 1.20%
BTP                03/15/2017 – 05/15/2024       coupon 1.85%
CCTeu            04/15/2017 – 10/15/2024
CTZ                05/30/2017 – 05/30/2019

In addition, according to market conditions, the Ministry of Economy and Finance reserves the right to offer further tranches of on-the-run nominal bonds with maturity above 10 years and inflation-linked bonds, also with the aim to tackle possible secondary market dislocations of these bonds.
Finally the Ministry of Economy and Finance could offer further tranches of off-the-run medium and long-term instruments, nominal – fixed rate and floating (CCTeu) - and  inflation linked, 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 06/27/2017

Advanced search

Archive of press releases