BTPs: total demand of over 8 billion in two days
On the second day of the auction, the ‘traditional’ BTp Valore attracted orders totalling 6.28 billion euros, whilst the BTp Valore Insieme attracted orders totalling 2.275 billion
(Il Sole 24 Ore Radiocor) - The second day of the twin placement, in which the Treasury offered the BTp Valore and the BTp Valore Insieme to the market, closed with total demand of 3.98 billion. In detail, the ‘traditional’ BTp Valore (the one with ‘step-up’ periodic coupons) proved more popular amongst the retail customers it is aimed at, attracting orders totalling 2.885 billion euros across more than 92,000 contracts. The response from small savers was more subdued for the BTp Valore Insieme, which pays a ‘maxi-coupon’ alongside the repayment of principal (without scheduled coupons): in this case, orders totalled 1.095 billion, with over 41,000 contracts subscribed. Total demand over the two-day placement period for the twin BTps stood at 8.58 billion (6.28 billion for the BTp Valore and 2.275 billion for the BTp Valore Insieme). The two bonds are on offer until 1.00 pm on Friday 23 October, unless the placement is closed early.
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