The Ministry of the Economy and Finance (MEF) announces that an exchange transaction will be held at the Bank of Italy on September 21, 2022. The operation will be held through a marginal auction, with discretionary determination of the price and quantity issued. Two bonds will be issued in exchange of four bonds to be bought back.
The following bonds will be issued:
| Type | ISIN code | Issue Date | Maturity date | Coupon |
|---|---|---|---|---|
| BTP | IT0005422891(*) | 01 Oct 2020 | 01 Apr 2031 | 0.90 % |
| BTP | IT0004286966 | 01 Aug 2007 | 01 Aug 2039 | 5.00 % |
The issued nominal amount of the above mentioned bonds will not exceed 2,000 million euros.
Bonds accepted for the exchange operation, subject to buyback, will be:
| Type | ISIN code | Issue Date | Maturity date | Coupon |
|---|---|---|---|---|
| CCTeu | IT0005185456 | 15 Jan 2016 | 15 Jul 2023 | --- |
| BTP | IT0005482309 | 28 Jan 2022 | 29 Nov 2023 | 0.00 % |
| CCTeu | IT0005399230 | 15 Dec 2019 | 15 Dec 2023 | --- |
| BTP | IT0005424251 | 15 Jul 2020 | 15 Jan 2024 | 0.00 % |
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 September 23, 2022.