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BTP Valore Final Books At E11.2bln

EUROZONE ISSUANCE

Final books for the 6-year retail-only BTP Valore were E11.227bln across 384,295 contracts, after closing at 13:00CET today.

  • Final take-up was thus 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, E2.129bln on day 3, E1.562bln on day 4 and E970mln on day 5.
  • Italy's 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.
  • 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.
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