BTp Italia Sì: orders for the new retail bond have already reached 1 billion
Orders have already exceeded €1 billion for the new BTp Italia Sì on the first day of placement of the new 5-year inflation-linked bond aimed at retail investors. In the first two hours following the launch, the value of orders – relating to around 29,000 contracts – stood at €1.037 billion. The last BTp issue aimed at savers was the 6-year BTp Valore, at the start of March, which raised €6 billion on its first day.
The new BTp Italia Sì will pay half-yearly coupons and will have a guaranteed minimum yield of 1.60% (to be confirmed or revised upwards at the end of the placement) plus the national inflation rate. An extra final premium of 0.6% of the capital invested is provided for those who purchase it during the placement period and hold it until maturity.
"In recent years, demand for retail bond issues has remained strong, with the Italian Treasury raising over €16 billion in March for a 6-year BTp Valore," commented analysts at Unicredit - "It will be interesting to see what the demand is for this week’s issue, given the new instrument and renewed concerns about inflation caused by the conflict between the United States and Iran."
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