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Futura update

BTP

Issuance for the retail-only 8-year BTP Futura now stands a bit over EUR5.4bln.

  • We have seen roughly EUR2.5bln demanded on Monday, EUR1.5bln Tuesday, EUR1.0bln Wednesday, just under E0.5bln Thursday and today there have been another EUR50mln or so orders so far.
  • Just a reminder that the first BTP Futura (a 10-year issue) saw demand total EUR6.1bln in July. So the second BTP Futura will probably end up being a little smaller in size.

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