The Ministry of Economy and Finance (MEF) announces that the new issuance of BTP Italia, the government bond indexed to the Italian inflation rate and conceived especially for retail investors, will take place from Tuesday, May the 27th to Friday, May the 30th, 2025.
The new BTP Italia will have a maturity of 7 years and an extra final bonus equal to 1 per cent for retail investors who will purchase the bond at issuance and hold it continuously until the final maturity (4th of June 2032).
As with previous issues, the new bond will be placed in two phases: the first phase, from Tuesday, May the 27th to Thursday, May the 29th, unless early closing, where only individual investors and other persons similarly classified (the so-called retail investors) are admitted; the second phase, which will take place in the morning of May the 30th, will be reserved to institutional investors. The guaranteed minimum annual (real) coupon rates will be announced on Monday, May the 26th.
Retail investors can purchase BTP Italia through their home banking, if it is enabled for online trading, or by their contact person at the bank or post office where they have a current account with a securities deposit account.
This bond is subject to a preferential tax rate of 12.5%. The Inheritance Tax does not apply, and – as foreseen by the 2024 Budget Law – it is possible to exclude investments in Italian Government bonds from the ISEE calculation, up to a maximum limit of € 50,000.
The issuance will be placed on the MOT (the Borsa Italiana’s screen-based market for securities and government bonds) through the following dealers: Intesa Sanpaolo S.p.A., Unicredit S.p.A. and Banco BPM S.p.A.
All official communications on the new BTP Italia, the FAQ, the termsheet and the technical note for market participants will be will be published on the website of the Ministry of Economy and Finance (www.mef.gov.it/en) and on the website of the Department of the Treasury in the Public Debt section (www.dt.mef.gov.it/en/debito_pubblico).
In addition, it will be possible to send questions to the following mail address: btpitalia@mef.gov.it.
