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Italy Q4 Funding Plans

EUROZONE ISSUANCE
  • Italy Q4 issuance plans:
    • The MEF has announced that it expects gross issuance of MT/LT bonds of E60bln in Q4-24.
    • This represents an increase on the 2024 year funding target to E333bln (the target was originally E310-320bln and then revised up to around E320bln for both the Q2/Q3 funding updates).
    • BTP Short-Term: Reopen 3.60% Sep-25 BTP Short Term (minimum E9bln outstanding already exceeded).
    • 3-year BTP: Reopen 3.85% Sep-26 (minimum E9bln outstanding).
    • 5-year BTP: Launch new 4.10% Feb-29 BTP (minimum E10bln outstanding).
    • 7-year BTP: Reopen 4.00% Nov-30 BTP (minimum E10bln outstanding).
    • 10-year BTP: Reopen 4.20% Mar-34 BTP (minimum E10bln outstanding).

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