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ITALY AUCTION RESULTS: Day 4 BTP Piu Books Total E1.708bln

ITALY AUCTION RESULTS
CEEMEAEurozoneItalyBulletMarketsFixed Income Bullets

Day 4 books for the inaugural Feb-33 BTP Piu (ISIN: IT0005634792) totalled E1.708bln, bringing total books across the last four days to E13.809bln. Assuming ~90% of total books are made up in the first four days (as was the case for the four previous BTP Valore issues), this implies a total book size of around ~E15.3bln.

  • Books totalled E5.604bln on day 1, E3.738bln on day 2 and E2.759bln on day 3.
  • The BTP Piu will form part of the BTP Valore family and will include an option for an early redemption after 4 years as well as a step-up coupon. The minimum coupon rates are 2.80% for years 1-4 and 3.60% for years 5-8.
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Day 4 books for the inaugural Feb-33 BTP Piu (ISIN: IT0005634792) totalled E1.708bln, bringing total books across the last four days to E13.809bln. Assuming ~90% of total books are made up in the first four days (as was the case for the four previous BTP Valore issues), this implies a total book size of around ~E15.3bln.

  • Books totalled E5.604bln on day 1, E3.738bln on day 2 and E2.759bln on day 3.
  • The BTP Piu will form part of the BTP Valore family and will include an option for an early redemption after 4 years as well as a step-up coupon. The minimum coupon rates are 2.80% for years 1-4 and 3.60% for years 5-8.