Overview
- The MEF set minimum step-up coupons at 2.50% for years 1–2, 2.80% for years 3–4 and 3.50% for years 5–6, with ISIN IT0005696320.
- Placement runs March 2–6 on Borsa Italiana’s MOT at par with no subscription fees, with the option of early closure.
- The bond pays quarterly coupons over six years and offers a 0.8% loyalty premium to investors who hold to maturity.
- Retail buyers can invest from €1,000 via home banking, banks or post offices with no order cap during the placement, benefiting from a 12.5% tax on coupons and the bonus plus inheritance and ISEE reliefs.
- Definitive coupon rates will be announced at the close of the offer and may be confirmed or increased depending on market conditions, while analysts estimate an average yield near 3.1%.