The Italian treasure is preparing for a new issue of long -term government bonds. A leading banks pool was commissioned to manage the placement of the New BTP Benchmark at 15 years oldexpiring on 01 October 2040. The operation, which will be carried out on the basis of market conditions, represents an important step for the financing of the Italian public debt.
The BTP issued by the Treasury
The treasure has announced a new voucher of the Poliennale Treasury (BTP) Benchmark at 15 years of age expiring the 1 October 2040. For the occasion he decided to entrust the mandate for the union placement to a pool of international banks. Among these is the Italian Intesa Sanpaoloto which they are added Barclays, Deutsche Bank, Morgan Stanley And Nomura.
The announcement was made through an official press release of the Treasury, in which it is specified that the transaction will be carried out in the near future, taking into consideration the market conditions at the time of issue. This means that the treasure will carefully monitor the trend of interest rates and the demand of investors before proceeding with the actual issue.
An important detail concerns the calendar of government bond rods. In consideration of the imminent placement of the new BTP at 15 years, the treasure has communicated that the auctions over 10 years of age, foreseen for on February 13, 2025will not take place. A decision taken to avoid an overlap of emissions and to concentrate the demand of investors on the new title at 15 years of age.
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In the early hours of today’s morning, slight drop for the spread among the vouchers of the Italian polynnial treasure (BTP) at 10 years and German bunds of the same deadline. The spread, which represents the return differential between the two government bonds, has stood at 108 basic pointsslightly decreased compared to the 109 basic points recorded at the end of the session last Friday.
At the same time, a slight flexion was observed in the performance of the ten -year BTP benchmark, which has been at 3.46%compared to 3.47% of the previous closure. It is important to emphasize that these data refer to the first exchange bars and that the performance of the spread and yields of the government bonds can vary during the day on the basis of various factors, including economic and political news, the demand e the offer of securities and investors’ expectations.
The BTP plus
The Ministry of Economy and Finance is preparing for the BTP plus, whose placement is foreseen from 17 to 21 Februarywith early closure in case of achievement of the objective. A novelty designed for small savers and for families who want to invest safely.
The most BTP offers a total duration eight years. One of the distinctive characteristics of this title is the flexibility offered to investors, who have the opportunity to leave early from the investment after the first four years.
At the end of the fourth year, there will be the possibility of requesting the early reimbursement, total or partial of the capital invested. This option allows you to recover the entire amount invested or a part of it, with minimal cuts of 1,000 euros.
The early refund can be exercised during a specific time window, which will be communicated by the Ministry of Economy and Finance At the beginning of 2029. The opportunity is reserved for investors who will have maintained the title in wallet without interruption from the time of the initial purchase. For those who choose instead of not making use of the early reimbursement faculty, the invested capital will be fully guaranteed at the natural expiry of the eight years.
