The BTp Italia Sì bond attracted orders totalling €3.176 billion on its first day

On the first day of the placement , the new BTp Italia Sì attracted orders totalling 3.176 billion across more than 94,000 contracts. The BTp Italia Sì, which is reserved solely for retail investors, has a 5-year maturity and pays half-yearly coupons linked to the national inflation rate, as well as an extra final premium of 0.6% on the subscribed capital reserved for those who purchase it on the issue dates and hold it until maturity. 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 bond guarantees a minimum yield of 1.60% (to be confirmed or revised upwards at the end of the placement) plus the national inflation rate. The issue will close next Friday unless it is closed early.

The new government bond indexed to inflation and featuring simplified coupons, designed for small savers had already raised €1 billion within the first hour, with 27,648 contracts signed. The issue, with a maturity of five years, offers a guaranteed minimum annual real return of 1.6%, plus a price appreciation linked to market trends, as well as a loyalty bonus of 0.6% of the subscribed capital for those who purchase the bond during the placement period and hold it until maturity, and the preferential tax rate of 12.5% applicable to all government bonds. The placement will close on Friday 19 June at 13:00, unless closed early.

The new BTp Italia Sì will pay half-yearly coupons. “In recent years, demand for retail bonds has proved robust, with the Italian Treasury raising over €16 billion in March for a 6-year BTp Valore,” commented analysts at Unicredit.