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BTP Valore books exceed E2.6bln

EUROZONE ISSUANCE
  • Note that books opened on the retail-only BTP Valore transaction with a 6-year maturity (ISIN: IT0005594491) now exceed E2.6bln after opening this morning. This will be the second BTP Valore transaction of 2024, following the E18.3bln raised in March for another 6-year issue (higher than the E18.2bln in June 2023 for a 4-year issue and E17.2bln in October 2023 for a 5-year issue).
  • The MEF has set the minimum coupons at 3.35% for years 1-3 and 3.90% for years 4-6 (as in March, it is a 3+3 step up coupon). In addition, there is an extra bonus of 0.8% for investors who hold from the issue date until maturity. Books will close at 13:00CET on Friday (although as always, the MEF reserves the right to close books early).
  • Italy's previous 6-year Mar-30 BTP Valore 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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