BTp Valore: orders touch 5.4 billion on first day of offer

The first day of the placement of the BTp Valore closed with a positive result. On the first day of the offer, the bond collected orders for 5.399 billion euro against more than 152 thousand thousand contracts subscribed. Demand was slightly lower than in the previous issue of last February when, on the first day of placement, demand reached 5.6 billion euro at the end of the day.

The BTp Valore is an instrument reserved for small savers only and will be on issue until Friday 24 October, unless it is closed early. The security provides nominal coupons, paid every three months, with a maturity of 7 years and an extra final premium of 0.8% for those who buy the security during the placement days and hold it until maturity.

The minimum guaranteed coupon rates for the sixth BTp Valore issue are 2.60 per cent for the first, second and third year, 3.10 per cent for the fourth and fifth year, and 4 per cent for the sixth and seventh year.