The Ministry of Economy and Finance announces that during the second quarter of 2011 the following new securities will be issued:
BTP 1st April 2011 - 1st April 2014 Minimum final outstanding: 9 billion Euros
BTP 15th April 2011 - 15th April 2016 Minimum final outstanding: 10 billion Euros
CTZ 29th April 2011 - 30th April 2014 Minimum final outstanding: 9 billion Euros
The minimum final outstanding refers to the overall issuance of the bond and therefore it relates to the minimum amount the bond shall reach before being replaced by a new benchmark.
The settlement date of the first auction of a new bond may not coincide with the interest accrual date.
New bonds, in addition to the above mentioned ones, could be issued during the second quarter, according to market conditions.
Further tranches of the following on-the-run securities will be issued too:
BTP 11/01/2010 - 11/01/2015 coupon 3.00%
BTP 03/01/2011 - 09/01/2021 coupon 4.75%
CCTeu 10/15/2010 - 10/15/2017
Moreover, according to market conditions, the Ministry of Economy and Finance reserves the right to reopen medium and long-term instruments, both nominal and inflation linked, including off-the-run instruments, in order to ensure secondary market efficiency.
The Treasury will place medium and long term securities, both nominal and indexed, through the usual uniform-price (marginal) auction mechanism and it will discretionally set the price and the issuance amount.