The BTP Italia is moving towards the conclusion of the placement. This morning institutional investors presented orders for 2,93 billion euros and around 11 o'clock the operations closed. The Treasury, revealed a source to Reuters, has decided to proceed with the assignment of the orders received from the institutions without resorting to the allotment mechanism. “The Treasury had reserved the right to use the equiproportional allotment mechanism to calm the demands of the institutions, which in the end turned out to be much lower than the two previous issues.
Funding for Bpt Italia reached 7,5 billion euros, taking into account the requests received in the first three days of the placement from retail. The seventh issue of the BTP closed today, returns to the levels of the first, concluded in April 2012 when the collection had been 7,291 billion, after the boom of the last four issues. There they had reached fluctuations ranging from 17 to 22 billion euros.
The objective of the Treasury was to hit the 100 billion quota with all the seven issues envisaged for this bond linked to Italian inflation. On the basis of this forecast, a value of around 13 billion had been estimated to be collected with the latest issue: but the collection stopped at about halfway through.
