First bond for savers of Cassa depositi e prestiti (Cdp), the company controlled by the Treasury with the participation of banking foundations which holds the postal savings of Italians. It will be the first in a series that marks a turning point in the history of the Cassa and Italian savings
The placement starts on Monday 9 March and will last until 27 March. The total amount of the offer to the market is one billion, which can be increased to 1,5 billion euros.
The bond designed to attract the interest of households, who are looking for stable and good-yielding bonds after the flattening of BOT and BTP rates, will have a minimum denomination of one thousand euros and a duration of seven years.
The bond will have a mixed rate: that is, it will have a fixed yield (1,75%) for the first two years while thereafter a variable coupon indexed to the Euribor will be triggered.
The Cdp bond for families will be purchasable exclusively in the bank or, during the subscription phase, online through home banking according to the successful technique experimented with BTp Italia.
