The Ministry of Economy and Finance announces the placement result of the first tranche of the new 20-year BTP. The bond, maturing on the 1st September 2038 with accrual date 1st September 2017, has a 2.95% annual coupon, paid on a semi-annual basis. The settlement date of the transaction is set on January 17th.
The amount of 9 billion Euro has been issued at a re-offer price of 99.766, equivalent to a 2.987% gross annual yield.
The bond has been placed through a syndicate, structured with five lead managers, Banca IMI S.p.A., Barclays Bank PLC, ING Bank N.V., JP Morgan Securities PLC and Royal Bank of Scotland PLC (trading as NatWest Markets) and with the rest of Specialists in Italian Government bonds participating as co-lead managers.
Details regarding the demand composition will follow in the next press release of the Ministry.
Not for release, directly or indirectly, in or into the United States of America, Australia, Canada or Japan. This document (and the information contained herein) does not contain or constitute an offer of securities for sale, or solicitation of an offer to purchase securities, in the United States, Australia, Canada or Japan or any other jurisdiction where such offer or solicitation would be unlawful. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States or to U.S. persons unless the securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available. No public offering of such securities is intended to be made in the United States.