Overview

• The Ministry of Economy and Finance set a new BTP Valore placement for October 20–24 on the MOT market of Borsa Italiana.
• The bond has a seven-year term with step-up coupons structured over 3+2+2 years and pays interest every quarter.
• A 0.8% loyalty premium applies to holders who buy during the placement and keep the bond to maturity.
• Subscription opens at €1,000, the bond is sold at par with no placement commissions, and purchases can be made via home banking, banks or post offices.
• Dealers are Intesa Sanpaolo, UniCredit and Banco BPM, with MPS and Banca Sella as co-dealers; minimum guaranteed rates will be set on October 17 and may be confirmed or raised at the close.