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- Details on the new BTP Green 30th April 2035 syndicated placement


Press release N° 159 of 09/07/2022

The Ministry of Economy and Finance announces the placement details of the new BTP Green with maturity date of 30th April 2035 and 4% annual coupon.

Around 290 investors have taken part to the transaction with a total amount requested of 40 billion Euros. Relevant has been the participation of ESG (Environmental, Social and Governance) investors who have subscribed more than half of the placement.

Overall, fund managers have been allotted for 44% of the issuance while a share of about 30,7% has been subscribed by banks. High participation has come from investors with a long-term horizon, who bought 19,8% of the issuance (in particular, pension funds and insurance companies for 13,7%, while central banks and official institutions have been allotted for 6,1%). Hedge funds have subscribed about 4,8% of the total amount issued while the residual share has been subscribed by non-financial institutions.

In terms of geographical residence of investors, the placement has been extremely diversified with the involvement of investors coming from more than 30 countries: foreign investors have been allotted for 68% of the issuance, while domestic ones have bought a share of 32%.

Among foreign investors, the participation from the UK has been relevant as they have been allotted for about the 24,3%. The rest of the amount issued has been placed mainly to investors from continental Europe, and in particular from France (10,6%), Germany, Austria and Switzerland (9,9%), Iberian Peninsula (8,4%), Nordic countries (6,8%) and other European countries (4,8%).

Outside Europe, a share of 0.6% has been subscribed from the US while the rest of the issuance has been subscribed by investors resident in other countries.

The bond has been placed through a syndicate structured with five lead managers BofA Securities Europe S.A., Citibank Europe Plc, Crédit Agricole Corp. Inv. Bank, Deutsche Bank A.G. and Monte dei Paschi di Siena Capital Services Banca per le Imprese S.p.A while the remaining Specialists in Italian Government Bonds participated as co-lead managers.

Rome 09/07/2022
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