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Ministry of Economy and FinanceExchange transaction

Press Release N° 151 of Mon Oct 01 18:39:00 CEST 2018

The Ministry of the Economy and Finance (MEF) announces that an exchange transaction will be held at the Bank of Italy on October, 3rd 2018. The operation will be held through a marginal auction, with discretionary determination of the price and quantity issued. One bond will be issued in exchange of four bonds subject to buyback.

Offered bond: BTP 01 Sep 2028 coupon 4.75% (IT0004889033).
The issued nominal amount of the above mentioned bond will not exceed 2,500 million euros.
Bonds accepted for the exchange operation, subject to buyback:

- BTP 01 Feb 2019 coupon 4.25% (IT0003493258)
- BTP 15 Oct 2020 coupon 0.20% (IT0005285041)
- BTP 01 Nov 2020 coupon 0.65% (IT0005142143)
- BTP 01 May 2021 coupon 3.75% (IT0004966401)

The buyback prices of the bonds admitted for the exchange operation will be announced on the auction day at 10 a.m. The bids of the operators are to be transmitted to the Bank of Italy by 11 a.m.
of the same day. The allocated amount will be determined by excluding offers presented at prices deemed inconsistent with market conditions. Only “Specialists in Government Bonds” will be allowed to participate in the exchange offer. No placement fee will be paid for the transaction.

The transaction will be settled on October, 5th 2018.

Rome Mon Oct 01 18:39:00 CEST 2018

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