The Treasury has placed another 3,762 billion of the new BTP Italia, with an 8-year maturity and a definitive annual (real) coupon rate of 0,65%, to be paid in two six-monthly coupons: it was therefore accepted - communicates the Treasury in a note – 79,2% of institutional demand. The total issued by adding the two placement phases (institutional and retail) of this 15th issue of the BTP is 6,75 billion euros.
In detail, during the first phase of the placement (dedicated to retail investors), from 21 to 22 October 2019, 47.395 contracts were concluded for a counter value of 2.987,030 million euro. In the second phase instead (dedicated to institutional investors), which opened and ended today, the number of membership proposals received and executed was equal to 318, for an issued value of 3.762,970 million euro against a total requested equal to 4.753,802 million euros (allocation coefficient equal to approximately 79,2%).
The MEF also added that, "with a subsequent press release, which will be issued on Thursday 24 October 2019, qualitative indications will be provided about the characteristics of the demand, distinguishing the two phases of the placement period". The previous issue of the BTp Italia, the 14th, concluded in November 2018, instead resulted in a placement of 2,164 billion euro.
Il great success of this issue comes on a weak day for the markets, with Piazza Affari losing 0,7% in mid-afternoon and the BTP-Bund spread which climbs back over 143 basis points.
