After the success of the last issue of BTP Italia, which recorded a collection of almost 8.8 billion euros, the Ministry of Economy is about to make two new financial products available for Italian public debt. These are the BTP Short Term and BTP € ia 5 years.
Both products will have the mechanism of the marginal auction with discretionary determination of the award price and the quantity issued within the emission intervals. The minimum amount of the subscription will be 1,000 euros and the issue will begin June 25th.
The new BTP Short term
As the product name also suggests, the BTP Short Term is a very short product. The treasure plans to derive from this issue between 2.5 and 3 billion eurosa relatively reduced figure compared to that of other government bonds that have a wider market, such as BTP Italia.
As mentioned, the date of offer of BTP Short term It will be June 25, but the regulation of subscriptions will be made public on June 27th. The expected annual coupon is of the 2.10% And it will be divided into two different payments, on February 26 and August 26 of each year, until the expiry of 2027
Being a government bonds still being issued, the ISIN codewhich is used internationally to identify, in an unequivocal way, a product of this type has not yet been assigned.
The auction for the BTP € i
THE Btp € i They are always in the short -term products in the panorama of government bonds, but still with a longer duration of short term. Also in this case, the issue is dated 25 June 2025, with the presentation of the regulation of subscriptions on 27 June. The expected deadline is August 15, 2031, approximately 5 years after the issue.
The longer duration of the product involves a significantly lower coupon than the term shorts. The expected yield is of the1.10%with the first coupon paid on August 15, 2025, with a return of just less than 0.15%, for 49 days on a semester of 181
| Issuing government bonds of June 2025 | |
|---|---|
| 📌 Types | BTP Short Term • BTP € 5 years |
| 📅 emission | June 27, 2025 |
| 📆 deadline | August 26, 2027 (short term) August 15, 2031 (BTP € i) |
| 💶 Annual coupon | 2.10% (short term) 1.10% (BTP € i) |
| 🔢 initial coupon | 0.348066% on 60 days (short term) 0.148895% on 49 days (BTP € i) |
| 📈 amount offered | min 2,5 billion euros max 3 billion euros each |
| 📊 additional | Up to 900 million euros (30%) for both |
| 💼 placement | Marginal rod with discretionary price |
| 👥 Participants | Only specialists and aspiring specialists in government bonds |
The success of BTP Italia
The new BTP issue comes one month after the success of that of BTP Italia, the financial instruments for Italian public debt indexed to inflation and dedicated to savers. Placed between 27 and 30 May, with three days for the Retail investors And one for institutional, these products have recorded an application for almost 10 billion euros.
A confirmation of the interest of the public for the public debt Italian, determined by several factors:
- The positive assessments of rating agencies on the status of public accounts
- The increase, albeit light, of inflation, which pushes retail investors to BTPs
- The interest rates still relatively high that guarantee good returns with a low risk
BTP Italia also have the role of increasing the percentage of public debt owned by Italians, even if in general, in recent months, an increase in foreign investors has been recorded.
