(Finance) – Positive trend for the new BTP Value also in the second day of placement. The orders they exceeded 4 billion euros at 3 pm, with over 140,000 contracts. The placement started yesterday, Monday 5 June, and will continue until Friday 9 June (unless early closure).
The Treasury has set the guaranteed minimum coupons at 3.25% for the first two years and at 4% for the following two, with a loyalty bonus 0.5% for those who hold the security until maturity. At the end of the placement, the final coupon rates will be announced and may be confirmed or revised, but only upwards, based on the market conditions on the closing day of the issue.
The ISIN code of the title during the placement period – on MOT market of Borsa Italiana – is IT0005547390. The first placement day closed with orders amounting to 5.432 billion euro, for over 180,000 contracts. Orders hit 4 billion euros yesterday at 14:47.
The BTP Value is the new family of government bonds reserved exclusively for individual savers and similar (retail) and demonstrates the Treasury’s willingness to continue to channel the savings of Italians towards public bonds in a phase in which the European Central Bank (ECB) will reduce its weight among holders of Italian debt.
According to the analyzes of Intesa Sanpaolothe minimum yield over 4 years of the first issue is 3.625%, compared to a yield for the reference nominal BTP on the same maturity of 3.39%, with a extra-performance of about 23bps. The loyalty bonus of 0.5% is added to the average rate, for those who hold the security for its entire duration, for an additional average annual excess return of 12.5bp.