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BTP Italia - Eighth Issue

The Ministry of Economy and Finance (MEF) announces the issuance of BTP ITALIA, with a 8 year maturity - instead of 6 year maturity as for the last issuance.


  • Distribution Period: 4 business day of the Borsa Italiana calendar, from April 13th to April 16th 2015 with two phases as indicated in the Termsheet of the Eighth Issuance
  • Settlement date: 20 April 2015
  • Dealers: Banca IMI S.p.A. and UniCredit S.p.A.
  • Issue Price: 100%
  • Distribution model: First Phase - Continous trading Phase starting from 9.00 a.m. to 17.30 p.m.; Second Phase - single Auction Call Phase starting from 9:00 a.m. to 11:00 a.m (pro-rata algorithm could be applied to determine the executed quantity of each order. The allocated quantity per order will be calculated as follows: [(Quantity of the single Buy order/Quantity of all Buy orders)xQuantity of Sell order]. Allocated quantity will be rounded up to the minimum Lot (1,000 euro))
  • Types of Orders: First Phase: on the sell side, the dealers in charge of the collection of acceptances shall place a limit sell order at the issue price with “DAY” TIF; on the buy side, market members shall be allowed to place market or limit orders at the issue price. Orders may be entered with “DAY” TIF, “FOK”, or “IOC”.
    Second Phase: dealers and market members can only enter limit orders at the issue price with “DAY” TIF will be allowed.
  • Minimum lot purchasable: First Phase Euro 1,000; Second Phase Euro 100,000


Please download the MEF press release.

Please download the Termsheet of the Eighth Issuance.

Please download:
- the Public Notice related to the start of the Distribution Period
- the Public Notice related to the guaranted minimum annual (real) coupon rate
- the Public Notice related to the early closure of the First Phase of the Distribution Period
- the Public Notice related to the Codes and the Dealer for the Second Phase
- the MEF press release related to the closing of the placement
- the Public Notice for the start of trading

For more details please visit MEF website.

Last update:  April 20 2015 - 09:56

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