The Ministry of Economy and Finance announces the details of the placement of the first tranche of the new 30-year BTP€i - first accrual date on September 15th 2009 and maturity on September 15th 2041 - with a 2.55% annual coupon, paid on a semi-annual basis.
Almost 100 investors took part to the transaction, with total amount issued of 3.5 billion Euros and a total amount of orders of around 5 billion Euros. Banks have accounted for 56% of the placement while insurance companies and pension funds were allotted more than 15% of it. Fund Managers have received around 22% of the transaction, while central banks got around 1%. Hedge funds have been allotted slightly more than 2%.
The geographical distribution has been well diversified: besides the participation of Italian investors, about 11%, it is worth noting the large presence of non resident investors, like those resident in the UK (44%), France (15%), Benelux (11%), Germany and Austria (5%) and Scandinavia (2%). Also Asian and US investors took part to the deal with a share of 4% and 7% respectively.