From Monday 14 to Thursday 17 April the Treasury will launch a new Btp Italia on the market with maturity of six years, no longer four as in past issues. The placement will take place in two phases: the first three days (by 14 16 to April, which may be reduced to two in the event of early closure) will be reserved for individual savers and other similar savers, while the 17 April (with possible early closure before the natural end of trading) will be reserved for institutional investors.
Il loyalty bonus it will be paid exclusively to those who have participated in the first phase of the distribution by keeping the security in their portfolio until maturity, in accordance with what was established in the previous issues. “We believe that the operation will go well because the requests continue to arrive – commented today Maria Cannata, head of the Public Debt Directorate of the Ministry of the Economy –, even if perhaps there won't be the avalanche of the last few times. We have to see, we remain flexible ”.
The BTP will continue to guarantee half-yearly coupons indexed to the Foi, the payment of the recovery of the inflation accrued in the semester and the single repayment on expiry. The one announced today is the first of the two issues planned for 2014. "There won't be a cap on the issue", specified Cannata, emphasizing that the decision to lengthen the duration of the security can be explained by the need to make the BTP Italia more palatable considering that “rates are very low”.
For the whole of 2014, Cannata specified that the estimate on the total amount of the collection linked to public issues is approx 450 billion, of which 27% has been achieved so far, around 120 billion. Cannata explained that the estimate could also decrease, "because at the beginning of the year we reduced the bots a little", but, if it becomes necessary to ensure financial coverage for the Renzi government's reforms, "it is obvious that there will be an upward revision ”.
