Published: January 9, 2024 at 10:36 AM ET
Written by Emese Bartha
Italy issued 15 billion euros ($16.43 billion) in a dual-tranche bond syndicate on Tuesday. This includes a €10 billion issuance of new BTP dated February 2031 and a €5 billion tap of 4.50% BTP in October 2053 as one of the lead banks. Said.
BTP’s book for the new seven years exceeds €73 billion, of which €3.7…
Written by Emese Bartha
Italy issued 15 billion euros ($16.43 billion) in a dual-tranche bond syndicate on Tuesday. This includes a €10 billion issuance of new BTP dated February 2031 and a €5 billion tap of 4.50% BTP in October 2053 as one of the lead banks. Said.
The bank said the new seven-year BTP’s book was more than 73 billion euros, including 3.7 billion euros in joint lead manager demand, and the bond spread was set at 6 basis points above the November 2030 BTP yield. The bond had a coupon rate of 3.50%, was priced at $99.880, and had a yield of 3.548%.
October 2053 BTP Tap’s book is over €91 billion, including joint lead manager demand of €4.8 billion, with a spread priced at 21bps above the September 2052 BTP yield. The tap issue size is preset prior to the transaction.
According to the bank, the price of 2053 BTP was 100.560, with a yield of 4.515%.
The lead managers for the transaction were Banco Siena, Crédit Agricole Corporation Investment Bank, Deutsche Bank, Goldman Sachs Bank Europe and JPMorgan.
Email Emese Bartha at emese.bartha@wsj.com.