The Ministry of Economy and Finance announces that the assumption by the Republic of Italy of the bond “RomeCity 5.345 per cent maturity January 27, 2048” (ISIN: XS0181673798) having nominal value of 1,4 billions of euro, originally issued by City of Rome, has become effective on 27th January 2020.
The bond was already recorded among the Central Government liabilities since the related payments have been due by the Government-appointed Commissioner of the City of Rome starting from 2010. Therefore the assumption of the bond does not entail any change of the stock of Central Government debt and so any change of that of General Government.
With the assumption interest and principal charges on the bond are paid directly by the State Budget starting from coupon having maturity on 27th January 2021, as it is stated by the law-decree no. 34 of 30th April 2019, implemented by law no. 5 of 28th June 2019.
The assumption was approved with a majority of 87.01% of the nominal value of the bond by the meeting of bondholders convened by the City of Rome on 19th December 2019 and held on 16th January 2020.
Documentation of the bondholders meeting and of the bond changed terms and conditions as consequence of the assumption, such as the transfer of governing law from United Kingdom to Italy as requested by the Ministry, is published on Luxembourg Stock Exchange website, where the bond are listed in compliance with applicable regulations.