The Ministry of Economy and Finance has announced that it has the second phase of the placement of the 6-year Btp Italia was also closed early, the one addressed to institutions, with orders equal to 10,4 billion euros.
Overall, including the placement reserved for retail (which ended yesterday), the Btp Italia has collected orders for over 20 billion.
Meanwhile, the BTP-Bund spread remains almost unchanged. By mid-morning, the yield differential between 10-year Italian government bonds and the corresponding German Bunds was 160 basis points.
Since March 2012, the five previous Btp Italia issues had collected around 66 billion euros in total, guaranteeing a good result for subscribers. In particular, the first three issues (in circulation for more than a year) yielded 5,5%, 7,7% and 6,2% respectively.
