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- Details of the CCTeu placement

Press release N° 166 of 10/21/2010

The Ministry of the Economy and Finance announces the details of the placement of the CCTeu, having a maturity of 15th October 2017, first accrual date of 15th of October, with a semiannual coupon indexed to 6-month Euribor plus 80 basis points.

As for the cash tranche, more than 160 investors took part to the transaction, for a total demand of nearly 5.5 billion euro. 40.6% of the issue was placed to banks, while asset and fund managers were allocated for the 34% of the total amount issued. Investors with a long term horizon (pension funds and insurance companies) took part for the 20% of the transaction whereas 3.1% was attributed to non financial corporations.

In line with expectations, the bond placement was characterized by a geographical distribution with a large presence of domestic investors (around 76% of the amount of the cash tranche). Foreign investors participation was however significant, because of its quality and diversified composition: the most relevant shares were assigned to Germany/Austria (9.2%), UK/Ireland (7.1%) and France (4.4%). Even other European investors were involved in the deal (those from Switzerland for 1.8%) as well as those from outside Europe (0.7%).

As for the tranche issued in exchange, total demand was about a billion euro, with the participation of 10 investors. Here follow the details of prices and quantities of CCT bought back from investors in the exchange:

Codice ISIN IT0004321813 IT0004404965 IT0004518715
Descrizione CCT 01/12/2014 CCT 01/09/2015 CCT 01/07/2016
Totale nominale 122,500,000 405,638,000 71,862,000
Prezzo 97.8 97.05 96.45
Rome 10/21/2010