The Ministry of the Economy and Finance (MEF) announces that an exchange transaction will be held at the Bank of Italy on December 6, 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 four bonds to be bought back.
The following bonds will be issued:
| Type | ISIN code | Issue Date | Maturity date | Coupon |
|---|---|---|---|---|
| BTP | IT0004889033(*) | 22 Jan 2013 | 01 Sep 2028 | 4.75 % |
| BTP | IT0004286966 | 01 Aug 2007 | 01 Aug 2039 | 5.00 % |
The issued nominal amount of the above mentioned bonds will not exceed 3,000 million euros for both bonds together.
Bonds accepted for the exchange operation, subject to buyback, will be:
| Type | ISIN code | Issue Date | Maturity date | Coupon |
|---|---|---|---|---|
| BTP | IT0005439275(*) | 15 Mar 2021 | 15 Apr 2024 | 0.00 % |
| BTP | IT0005367492(*) | 01 Apr 2019 | 01 Jul 2024 | 1.75 % |
| BTP | IT0005001547(*) | 01 Mar 2014 | 01 Sep 2024 | 3.75 % |
| CCTeu | IT0005218968 | 15 Aug 2016 | 15 Feb 2024 | - |
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 11, 2023.