Benvenuto sul sito del Ministero dell’Economia e delle Finanze, conosciuto anche come Portale mef
Italian Government

Contenuto principale

- Exchange transaction of Government bonds via Bank of Italy


Press release N° 164 of 09/19/2022

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 security has at least one tranche issued "ad hoc" for REPO operations.

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.

Rome 09/19/2022