The Ministry of the Economy and Finance announces the details relating to the Second Phase of the eighteenth issue of the BTP Italia, the bond indexed to Italian inflation (FOI Index, excluding tobacco – Consumer price index for blue-collar and white-collar families, at net of tobacco) with a 6-year maturity.
The Second Phase, dedicated to institutional investors, which took place on 17 November in the space of 2 hours, during the fourth day of the placement, recorded 222 contracts, for a total value requested that was fully accepted, equal to 4,713.328 million EUR. This figure, together with that of the First Phase of placement which saw an amount of 7,281.189 million euros of BTP Italia purchased by small savers, resulted in total final funding of approximately 12 billion euros.
Again with reference to the Second Placement Phase, the information collected by the Dealers and Co-Dealer allow to obtain statistics that are almost totally representative of the total amount allocated.
In particular, 40.9 per cent of the amount issued in the Second Phase was placed with banks while 39.4 per cent with asset managers. Investors with a long-term investment horizon bought 12.2 per cent of the issue (in particular 6.4 per cent went to pension funds and insurance companies, while 5.8 per cent was allocated to institutions governmental). garlic hedge funds 7.3 per cent of the total amount was allocated. The remaining share, equal to 0.2 per cent, was assigned to non-financial institutions.
The placement of the security in the Second Phase saw a significant presence of domestic investors, who subscribed 48.1 per cent, while the remaining 51.9 per cent of the issue was subscribed by foreign investors. Among these, the most significant shares were placed in Europe, in particular in the United Kingdom (20.7 per cent), in Germany and Austria (16.3 per cent), in Switzerland (4.8 per cent), in France (3.7 percent) and in other European countries (1.7 percent). The remainder of the Second Phase issuance (4.7 per cent) was placed outside Europe, in particular to Middle Eastern investors.
The information contained herein is not intended to be published or distributed, directly or indirectly, in the United States of America. The press release and the information contained herein do not constitute an offer to sell securities in the United States. The securities to which reference is made have not been and will not be registered under the US Securities Act of 1933, as amended (the “Securities Act”) and may not be offered or sold in the United States of America unless registered pursuant to the Securities Act or pursuant to applicable exemptions pursuant to the Securities Act. These securities are not and will not be the subject of any public offering in the United States of America. Accordingly, these securities may only be offered, sold or delivered to persons outside the United States pursuant to Regulation S of the Securities Act.
BTP Italia second phase: 51.9 per cent to foreign investors, 48.1 per cent to domestic investors