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° 157 of 10/16/2023

The Ministry of the Economy and Finance (MEF) announces that an exchange transaction will be held at the Bank of Italy on October 18, 2023. 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 five bonds to be bought back.
The following bonds will be issued:

Type ISIN code Issue Date Maturity date Coupon
BTP IT0001444378(*) 01 Nov 1999 01 May 2031 6.00 %
BTP IT0003934657(*) 01 Aug 2005 01 Feb 2037 4.00 %

The issued nominal amount of the above mentioned bonds will not exceed 3,000 million euros.
Bonds accepted for the exchange operation, subject to buyback, will be:

Type ISIN code Issue Date Maturity date Coupon
BTP IT0005454050 29 Jul 2021 30 Jan 2024 0.00 %
BTP IT0005499311 29 Jun 2022 30 May 2024 1.75 %
BTP IT0005452989(*) 15 Jul 2021 15 Aug 2024 0.00 %
BTP Italia IT0005217770 24 Oct 2016 24 Oct 2024 0.35 %
BTP Italia IT0005410912 26 May 2020 26 May 2025 1.40 %
(*)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 October 20, 2023.

Rome 10/16/2023
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