Rome, September 17th, 2003
30 year BTP placement result
The Ministry of Economy and Finance announces the results of the placement of the new 30 year BTP. The BTP matures on the 1st August 2034 and has a 5% annual coupon.
It has been a 7 billion euro issue, with a total amount requested over 15 billion euro. The re-offer price has been 98.106 (equivalent to a 5.188% gross yield), the settlement date is set for the September 24th 2003.
About 150 investors have taken part in the placement procedure. Real money investors - whose majority is characterised by a long term investment horizon - accounted for more than 77% of the allocation.
The geographic distribution has been particularly diversified: beside the traditional participation of the Italian investors (31%), the participation of the European investors has been about 66%. Worth noting have been the quotas subscribed by investors resident in Germany (18%), Benelux (13%), UK (11%) and France (11%).
The bond has been sold through a syndicate. The syndicate was structured with five lead manager, Citigroup, Deutsche Bank, ING Bank, JPMorgan e Unicredit Banca Mobiliare. All the other Government Bond Specialists have been taking part in the placing procedure acting as co-manager.