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BTP Valore Books Cumulatively Over E9.5bln

EUROZONE ISSUANCE

Day 4 books for the 6-year retail-only BTP Valore closed at E1.562bln on the day, brining the cumulative total to E10.3bln at writing. With books closing tomorrow at 13:00CET and takeup on the final day in previous issues has ranged from E1.1-1.6bln. Given the low take up so far, it implies that we are likely to see E10.9-11.5bln for the issue. Well below the E18.3bln seen in Feb/Mar for the previous 6-year issue (as well as last year's E18.2bln /E17.2bln).

  • E3.701bln was sold on day 1 and E2.865bln on day 2 and E2.129bln on day 3.
  • The previous 6-year Mar-30 BTP Valore issue saw E6.44bln sold on day 1, E4.611bln sold on day 2, E3.603bln on day 3 and E2.29bln sold on day 4 and E1.37bln on day 5.

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