Benvenuto sul sito del Ministero dell’Economia e delle Finanze, conosciuto anche come Portale mef

Contenuto principale

- ISSUE OF CCTEU AND BTP

Press release N° 128 of 08/23/2010

The MEF announces the issuE of the following bonds for 30 August 2010, with settlement date on 1 September 2010:

- Floating rate treasury certificates indexed to 6-month Euribor ("CCTeu"):

start date: 15 June 2010; fifth tranche

maturity: 15 December 2015

semi-annual coupon: 6-month Euribor with a 0.80% spread; current coupon, with maturity 15 December 2010, equal to 0.917% .

ISIN: IT0004620305

- Long-term Treasury Bonds (BTP):

start date: 1 June 2010; seventh tranche

maturity: 1 June 2013

coupon: 2%

ISIN: IT0004612179

start date: 1 September 2010; first tranche

maturity: 1 March 2021

coupon: 3.75%

ISIN: to be attributed

The above-mentioned bonds will be placed using the uniform-price auction mechanism, with allotment price and issuance amount being set discretionally within an issuance interval to be announced in a subsequent press release.

The amount placed will be determined excluding bids at prices 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 investment businesses referred to in the decrees authorising the issuance of the above-mentioned bonds are eligible to participate in the auction.

The aforementioned dealers may bid on their own account or on behalf of third parties.

Each submitted bid must state the relevant offer price. Each dealer may submit up to a maximum of three bids, each at a different price and for a minimum amount of € 500,000 of nominal capital. Any bid below the minimum amount will not be considered. Each bid must not exceed the issuance amount; any bids in excess of the issuance amount will be admitted only up to that amount.

Prices will vary by a minimum of one euro cent; any variations by a different amount will be rounded upwards. The minimum sum that can be subscribed is one-thousand euros.

Bids from dealers must be submitted by the deadlines set down in the calendar below and by means of electronic bid sent to the Banca d'Italia via the National Interbanking Network in accordance with the technical procedures established by the Banca d'Italia and familiar to dealers.

In the event that not all bids at the uniform price can be accepted, allotment will be on a pro-rata basis, with rounding as required.

The allotment price shall be announced by way of a press release, which shall also state the amounts allocated to the "specialists" in the last three auctions.

Dealers participating in the auction shall arrange for the bonds allocated to be assigned to subscribers and no additional charges will be requested on top of the allotment price.

Settlement of the bonds allocated by dealers will be at the allotment price and with payment of daily interest from the day following the start date of the current coupon to the day of settlement.

As payment for collecting bids from the public, commission will be paid to the said dealers, commensurate with the nominal amount of bonds allocated, equal to:

- 0.30% for CCTeu 15.6.2010/15.12.2015

- 0.20% for BTPs 2% 1.6.2010/2013

- 0.40% for BTPs 3.75% 1.9.2010/1.3.2021.

Bonds will be reserved by the public through the above-mentioned groups of dealers within the deadline set down in the calendar; brokers may request a payment on account of the nominal amount reserved as security for completion of subscription.

On settlement date, the subscribers will pay the sum due for the bonds allocated, on the basis of the allotment price, as well as daily interest accrued. A receipt will be issued on payment.

The calendar for subscription operations is as follows:

  CCTeu maturity 15.12.2015 BTPs maturity 1º.6.2013 BTPs maturity 1º.3.2021
Public to reserve by 27 August 2010 27 August 2010 27 August 2010
Submission of bids to auction: by 11.00 AM on 30 August 2010 30 August 2010 30 August 2010
Settlement of subscriptions 1º September 2010 1º September 2010 1º September 2010
Daily interest payable (days) 78 92 -

State bond specialist dealers are eligible to participate in the placements of state bonds that will take place automatically in addition to the issuance auctions.

The offer of the additional tranche is fixed, with respect to each issue, at an amount not exceeding:

- 10% of the maximum nominal amount offered for CCTeu 15.12.2015,

- 10% of the maximum nominal amount offered for BTPs 1.6.2013,

- 25% of the maximum nominal amount offered for BTPs 1.3.2021.

"Specialists" who did not participate in the issuance auction shall not be eligible to participate in the additional placement.

The additional allocation will be at the allotment price established at the auction for the current issuance.

The terms and conditions for the participation of specialists in the additional allocations are set forth in the relevant decrees authorising the issuance of the above-mentioned bonds.

Rome 08/23/2010
IT

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