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- Exchange transaction of Government bonds via Bank of Italy

Press release N° 227 of 12/06/2021

The Ministry of the Economy and Finance (MEF) announces that an exchange transaction will be held at the Bank of Italy on
December 09, 2021. The operation will be held through a marginal auction, with discretionary determination of the price and
quantity issued. One bond will be issued in exchange of four bonds to be bought back.
The following bond will be issued:

Type ISIN code Issue Date Maturity date Coupon
CCTeu IT0005451361 15 Apr 2021 15 Apr 2029 ---

The issued nominal amount of the above mentioned bond will not exceed 2,500 million euros.
Bonds accepted for the exchange operation, subject to buyback, will be:

Type ISIN code Issue Date Maturity date Coupon
CTZ IT0005412348 28 May 2020 30 May 2022 ---
CCTeu IT0005104473 15 Dec 2014 15 Jun 2022 ---
CTZ IT0005422487 28 Sep 2020 28 Sep 2022 ---
CCTeu IT0005137614 15 Jun 2015 15 Dec 2022 ---

The buyback prices of the bonds admitted for the exchange operation will be announced on the auction day at 10 a.m. The bids of the Specialists in Government bonds are to be transmitted to the Bank of Italy through the National Interbank Network, by 11 a.m. of the same day. The allocated amount will be determined by excluding offers presented at prices not deemed favourable given the current market conditions.
Only “Specialists in Government Bonds” will be allowed to participate in the exchange offer. No placement fee will be paid for the transaction.
The transaction will be settled on December 13, 2021.

Rome 12/06/2021
IT
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