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.