Overview
- The bond matures on 1 October 2041 with a 3.95% annual coupon paid semiannually and was issued at 99.990 for a 3.990% gross yield.
- The Ministry of Economy said orders topped €157 billion against a €14 billion allocation, setting an all-time high for Italian sovereign demand.
- The syndicated placement was led by BBVA, BofA Securities Europe, Citibank Europe, Deutsche Bank, Goldman Sachs Bank Europe, and J.P. Morgan.
- The €14 billion size is the largest issuance ever for an Italian 15-year tranche.
- Following institutional allocation, the bond will be available to retail investors on Borsa Italiana’s MOT market.