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Ministry of Economy and FinanceDetails on the new 15 year BTP€i placement

Press release N° 199 of 10/08/2015

The Ministry of Economy and Finance announces the placement details of the new 15-year BTP€i, maturing on the 15th September 2032, with a real 1.25% coupon.
About 130 investors have participated to the transaction with a total amount requested of more than 9.3 billion Euros. 52% of the issue has been placed to asset and fund managers, while banks have been allotted around 25% of the issuance. A significant share, exceeding 19%, have been allocated to long-term horizon investors (pension funds and insurance companies accounting for around 18% while central banks for 1.4%), whereas hedge funds have received a little less than 2%. Also non-financial institutions (corporations) have taken part to the transaction and they have been allotted around 1.4% of the final amount issued.
The geographical distribution has been well diversified: the participation of UK investors has been significant, as they were allocated around 46% of the issuance while domestic investors undescribed the 34% of the issue. It is worth noting the presence of North American investors with a participation above 9%. Noteworthy also the share allotted to investors resident in France (5.4%) and in Central and North Europe for a cumulative share of around 4.5% (with major presence of Germany and Scandinavian accounts).
The bond has been placed through a syndicate structured with five lead managers, Banca IMI S.p.A., BNP Paribas, Citigroup Global Markets Ltd., ING Bank N.V. and Nomura Int. PLC, while the remaining Specialists in Italian Government Bonds have been invited as co-lead managers.

Rome 10/08/2015

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