The Treasury returns to the BTP Italy and with a new emission. Three months after the last edition, government bonds indexed to the national inflation rate designed for individual savers will be offered by Monday 6 a Thursday March 9 2023.
The new Btp Italia, whose characteristics will be in line with the previous issues – reports one note – will have one duration of 5 years, expiring on March 14, 2028, and will offer the usual loyalty bonus equal to 8 per thousand for retail investors who keep it until maturity. The duration is shorter than the last title issued in November. On that occasion, the Ministry of the Economy and Finance placed the BTP Italia with a 6-year maturity and closed with requests for almost 12 billion euros and with an annual real rate of 1,60%.
How the new Btp italia issue works
As usual, the security will be placed on the market in two stages. The first three days, barring early closure, will be reserved for individual and similar savers (the so-called retail market), while 9 March will be the turn of institutional investors. The minimum real annual rate guaranteed for this new issue will be announced to the public on Friday 3 March.
The short duration, and the short interval with respect to the previous issue, can be explained by a market scenario favorable to the Government bond, due to a still ongoing inflation which increases its attractiveness and a level of interest rates which is not too penalizing for the public accounts.
The Btp Italia will be purchasable with the usual mechanisms, at the institution where you have a securities account, and without commission costs.
Il placement will take place on the MOT electronic platform (the electronic market for bonds and government securities of Borsa Italiana) through the following dealer banks: Understanding St. Paul e Unicredit. More details will be released in the coming days.
