The MEF announces the issuance of the following treasurybonds, to be auctioned on 14 July 2009, and settled on 16 July 2009:
- BTPs (Long Term Treasury Bonds):
startdate: 1 June 2009; third tranche
maturity: 1 June 2014
coupon:3.50%
ISIN : IT0004505076
The above-mentioned bonds will be placed using theuniform-price auction mechanism, with allotment price and issuance amount beingset discretionally within an issuance interval to be announced in a subsequentpress release.
In addition, the MEF announces the issuance of the followingoff-the-run treasury bonds, for the same date of 14 July 2009 and with settlement on 16 July 2009:
- BTPs (Long Term Treasury Bonds):
startdate: 1 February 2006; twenty-first tranche
maturity: 1 August 2016;
coupon:3.75%
ISIN : IT0004019581
start date: 1 August 2007; fifteenth tranche
maturity: 1 February 2018;
coupon: 4.50%
ISIN : IT0004273493
The above-mentioned bonds will be placed using theuniform-price auction mechanism, with allotment price and issuance amount beingset discretionally within an issuance interval referring to the twoaforementioned borrowings as a whole.
The amount placed will be determined excluding bids atprices considered to be unfavourable on the basis of market conditions.
Italian,EU and non-EU banks as well as brokerage companies and EU and non-EU investmentbusinesses referred to in the decrees authorising the issuance of the above-mentionedbonds are eligible to participate in the auction.
Theaforementioned dealers may bid on their own account or on behalf of thirdparties.
Eachbid submitted must state the relevant offer price. Each dealer may submit up toa maximum of three bids, each at a different price and for a minimum amount of500,000 euro of nominal capital. Any bid below the minimum amount will not beconsidered. Each bid must not exceed the issuance amount; any bids in excess ofthe issuance amount will be admitted only up to that amount.
Priceswill vary by a minimum of one euro cent; any variations by a different amountwill be rounded upwards. The minimum sum subscribable is one-thousand euros.
Bidsfrom dealers must be submitted by the deadlines set down in the calendar belowand by means of electronic bid sent to the Banca d'Italia via the NationalInterbanking Network in accordance with the technical procedures established bythe Banca d'Italia and familiar to dealers.
Inthe event that not all bids at the uniform price can be accepted, allotmentwill be on a pro-rata basis, with rounding as required.
Theallotment price shall be announced by way of a press release, which shall alsostate the amounts allocated to the specialists in the last three auctions.
Dealersparticipating in the auction shall arrange for the bonds allocated to be assignedto subscribers and no additional charges will be requested on top of theallotment price.
Settlement of the bonds allocated bydealers will be at the allotment price and with payment of daily interest fromthe day following the start date of the current coupon to the day of settlement.
Aspayment for collecting bids from the public, commission will be paid to thesaid dealers, commensurate with the nominal amount of bonds allocated, being:
-0.30% for BTPs 3.50% 1.6.2009/2014
- 0.40% for BTPs 3.75% 1.2.2006/1.8.2016
- 0.40% for BTPs 4.50% 1.8.2007/1.2.2018.
Bondswill be reservable by the public via the above-mentioned groups of dealers bythe deadline set down in the calendar; brokers may request a payment on accountof the nominal amount reserved as security for completion of subscription.
Onsettlement date, the subscribers will pay the sum due for the bonds allocated,on the basis of the allotment price, as well as daily interest due. A receiptwill be issued on payment.
Thecalendar for subscription operations is as follows:
| BTPs maturity 1.6.2014 | BTPs maturity 1.8.2016 | BTPs maturity 1.2.2018 | |
|---|---|---|---|
| Public to reserve by | 13 July 2009 | 13 July 2009 | 13 July 2009 |
| Submission of bids to auction: by 11.00am on | 14 July 2009 | 14 July 2009 | 14 July 2009 |
| Settlement of subscriptions | 16 July 2009 | 16 July 2009 | 16 July 2009 |
| Daily interest payable (days) | 45 | 165 | 165 |
Statebond specialist dealers are eligible to participate in the placements of statebonds that will take place automatically in addition to the issuance auctions.
Theoffer of an additional tranche is fixed, with respect to each issue, atan amount not exceeding:
- 10% of the maximum nominal amount offered with respect toBTPs 1.6.2014,
- 10% of the nominal amount placed with respect to BTPs 1.8.2016,
- 10% of the nominal amount placed with respect to BTPs 1.2.2018.
Specialistswho did not participate in the issuance auction shall not be eligible to participatein the additional placement.
Theadditional allocation will be at the allotment price established at the auctionfor the current issuance.
The terms and conditions for the participation ofspecialists in the additional allocations are set forth in the relevant decreesauthorising the issuance of the above-mentioned bonds.