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***Today, the Italian Treasury starts the......>
BTPS: ***Today, the Italian Treasury starts the retail portion of the 6Y BTP
Italia.
- The last time this bond was sold in May, orders closed Day 1 at E1.615bln and
Day 2 at 2.695bln and eventually closing at E8.6bln as institutional investors
asked for E5.4bln on the fourth and final day.
- Overall, this is the twelfth BTP Italia sale since the BTP Italia bond was
launched in Mar 2012. In previous sales, Italy sold E8.6bln of 6-Year in May
2017; E5.219bln 8-year BTP Italia bond in Oct 2016; E8.014bln of 8-year BTP
Italia bond in Apr 2016; E9.379bln in Apr 2015; E7.506bln 6-year BTP Italia bond
in Oct 2014; E20.565bln 6-year BTP Italia bond in Apr 2014; E22.27bln in Nov
2013; E17.06bln BTP Italia bonds in Apr 2013, E18.02bln sold in Oct 2012. These
sales dwarfed the original placements; E1.74bln in June 2012 and the inaugural
E7.3bln sale in Mar 2012.
- BACKGROUND: The first 3-days of the placement period has been set aside for
individual investors only - may be reduced to two in the case of early closing.
The second phase is for institutional investors and scheduled for Thursday.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.