Yes is closed today, Friday, October 24th, the placement of the Btp Valore, the government bond designed by the Ministry of Economy and Finance for individual investors, and interest on the market remained high until the final stages, with the final rates confirmedThe orders of the last day have exceeded 1,2 billion euros, for a total of over 42 thousand contracts, bringing thetotal collection of 16,6 billion eurosOver 506 individual investors participated, with an average ticket price of €32.688.
The Ministry of Economy and Finance, led by Giancarlo Giorgetti, has communicated the final rates, confirming the minimum guaranteed levels announced last October 17: 2,60% for the 1st, 2nd and 3rd year, 3,10% for the 4th and 5th year and 4% for the 6th and 7th year.
BTP Valore, final rates confirmed: funding boom
For the first time in this family of securities, the Treasury has chosen a long seven-year maturity, with a loyalty bonus of 0,8% for those who keep the title until 2032. nominal coupons, paid every three months, allow for an indicative average yield, including the prize, 3,26% gross, while the net yield is slightly lower. The market response confirms the growing appeal of government bonds for small savers.
The sixth issue of BTP Valore, closed with a collection of 16,57 billion euros, confirms a solid result, even if it remains slightly below historical recordsBy comparison, the February 2024 issuance of a 6-year bond had reached €18,3 billion, while the October 2023 issuance, with a 5-year maturity, had totaled €17,1 billion. The first issuance in June 2023 (4 years) also raised €18,1 billion, while the May 2024 issuance stopped at €11 billion. The issuance was managed by dealers. Intesa Sanpaolo, Unicredit e Bpm bank, with the support of co-dealers Monte dei Paschi di Siena Bank e Banca Sella Holding, through the Mot.
BTP Value: results of the first four days' collection
The response of the first four days of placement confirms the strong appreciation of the stock. first day raised 5,4 billion euros, followed by a second session on the MOT, the electronic bond market of the Italian Stock Exchange, closed with 4,31 billion euros against over 134 thousand contracts, bringing the total close to 10 billion already in the first two days. In third day, Wednesday, October 22, demand reached about 3,3 billion, with over 100 thousand contracts, while Thursday 23 October (penultimate day) despite a physiological slowdown, the harvest remained robust, with 2,29 billion euros and more than 75 thousand contracts, bringing the overall collection of the four days to over 15,3 billion euros, with 464 thousand investors and a particularly high average ticket of 32.943 euros.
Even though the title is intended primarily for small savers, there has been no shortage of significant orders. According to Milano Finanza, among the approximately 200 multi-million dollar investments registered, the one that stands out a maxi order of 17,7 million euros, which will generate quarterly coupons of over 400 thousand euros net per year in the first three years, almost 480 thousand euros in the following two years and up to 618 thousand euros in the final two years, for a total of over 3,4 million euros over the entire duration of the bond.
