The Ministry of Economy and Finance has announced a new auction for i Multi -year treasure vouchers (BTP)the main debt securities issued by the Italian State. The goal is to collect 7.5 billion euros, also taking advantage of the lower coupons for the drop in the cost of money and the positive assessments of the rating agencies on the public debt of our country.
The main products will be three, with a duration that will go from 3 to 20 years. These are therefore very different BTPs, which adapt to different forms of investment.
The BTP at 3 years old, the shortest investment of the auction
The first product auctioned on May 13 by the Ministry of Economy and Finance is the Btp At 3 years of code ISIN IT0005641029, expiring on June 15, 2028. It is the fifth tranche of this government government from its issue on March 17, 2025. The issue of the issue will vary from 3 billion euros to a maximum of 3.5 billion, with an additional auction amount of 700 million euros.
The regulation of subscriptions will be issued on May 15th. For savers, the gross annual coupon, to which the taxes must therefore be applied, will be of the 2.65%. The first half -yearly coupon, which is reduced as it is paid to June 15, 2025, is 0.6522%.
The BTPs at 7 years old, coupon and expiration dates
For a more medium -term investment, the Ministry of Economy makes the BTP available to the auction of 13 May at 7 years expiring in July 2032 and Code ISIN IT0005647265. These titles were issued for the first time on April 25th and are in their second issue.
In this case, the issue is less in value compared to that of the 3 -year BTP, given that the state aims to collect between 2 and 2.5 billion euros. The additional amount for the auction will be 500 million euros, while the regulation for subscriptions will be public on May 15, 2025.
The longest period of money constraint also means a higher coupon, around at 3.25% per year At the time of auction. Also in this case the first half -yearly coupon, which will be paid to July 15, 2025, will be reduced to 0.72721%.
The BTPs at 20, record coupon for long -term investment
The last financial product that the treasure makes available to investors in this auction is also the longer duration. This is the BTP at 20 with Despite in September 2043. The issue of this government government dates back to 1 September 2022, with expiry date set on 1 September 2043. The identification code assigned to this BTP is IT0005530032.
This is the tenth tranche that the state issued for this product. From the auction, the government expects to receive a minimum of 1 billion euros and a maximum of 1.5 billion. The additional auction amount will be 300 million euros and the regulation for subscriptions, also in this case, will be published on May 15th.
The 20 -year BTP expiring in September 2043 also has the highest annual coupons. Gross, returns 4.45% investment every year. The next coupon will be paid on September 1st this year.
