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Italy Q4 issuance programme

EUROZONE ISSUANCE
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The MEF announced on Friday evening that the following new securities will be issued in Q4:

  • 3-year BTP maturing 15 Dec, 2024 with a minimum final outstanding of E9bln.
  • 7-year BTP maturing 15 Feb, 2029 with a minimum final outstanding of E10bln.
  • 10-year BTP maturing 1 Jun, 2032 with a minimum final outstanding of E10bln.
The MEF has also announced that the following on-the-run bonds will continue to be tapped:
  • 0% Jan-24 BTP Short Term (E9.88bln outstanding; min target E9bln)
  • 0% Aug-24 BTP (E18.29bln outstanding; min target E9bln)
  • 0% Aug-26 BTP (E19.80bln outstanding; min target E10bln)
  • 0.50% Jul-28 BTP (E13.39bln outstanding; min target E10bln)
  • 0.95% Dec-31 BTP (E16.25bln outstanding)
As always the MEF notes that additional new bonds could be issued in Q4 according to market conditions. As usual it also says it "reserves the right" to continue to tap 10+ year maturities, and tap/issue new CTZs, CCTeu and BTPei.