Not too exciting a result for the fourth issue of the BTP Futura, which ended with total funding equal to € 3,268 billion, more than 2 billion less than the previous issue, closed with 5,48 billion euro of orders. Compared to the first issue, which had registered a subscription of 6,1 billion, funding has almost halved.
We recall that the Btp Futura was created with the aim of support the national economy and therefore the proceeds from this latter subscription will also be allocated to the measures adopted by the Government to support growth.
Going back to the fourth issue, for the security with accrual date of November 16, 2021 and maturity of November 16, 2033, the Treasury decided to revise upwards the rate from the fifth to the eighth year of life of the security "in order to take into account the evolution of market". Speaking in percentage terms, the definitive coupon rates will therefore be equal to 0,75% for the first 4 years, 1,35% for the following four years (segment subject to increases) and 1,70% for the remaining four years of life. The settlement of the operation will take place on the same day as the enjoyment of the security.
According to data provided by the Treasury, they were concluded within the five days of the issue 91.273 contracts, a result also in this case lower than the previous ones.
