Investing.com – The second day of placement of the fourth tranche of the Btp Valore it closed with 2.865 billion euros raised and 99 thousand contracts signed. Adding the figure to the 3.701 billion euros on the first day, the total orders on May 7 at the end of the day rose to 6.565 billion euros and 220,672 contracts.
For comparison, the third edition of Btp Valorethat of records, it had reached 11.05 billion orders in the first two days. On that occasion, between February and March, the Mef had raised a total of 18.32 billion euros, this time, however, the Government has planned to collect around 10 billion euros.
On the other hand, the average expenditure per contract rises and stands at 29,750 euros, the highest figure among all BTP Valore issues.
How much does the BTP yield
The bond can be purchased until Friday 10 May at 1pm, unless early closure. The fourth issue of the government bond will offer a yield guaranteed minimum of 3.35% for the 1st, 2nd and 3rd year which will rise to 3.90% for the 4th, 5th and 6th year.
At the end of the placement, the definitive coupon rates will be announced which may be confirmed or revised upwards, based on the market conditions on the closing day of the issue.
Details of the fourth edition
In this edition the government bond intended for a retail public has a duration of six years and coupons paid every three months. As already anticipated, the yield will increase: from 3.35% in the first three years it will go to 3.90% in the last three, based on the 3+3 year “step up” mechanism, already used for other BTPs.
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The extra final premium will rise to 0.8% for those who purchase it during the placement days and hold it until maturity.
How to buy Btp Valore
The placement takes place on the MOT platform (the electronic market for bonds and government securities of the Italian Stock Exchange) through two dealer banks: Intesa Sanpaolo (BIT:) (BIT:ISP) (BIT:ISP) (BIT:ISP) and UniCredit (BIT:) (BIT:CRDI) (BIT:CRDI) (BIT:CRDI).
As with previous issues, the BTP Valore can be purchased exclusively by small savers through your own home bankingif enabled for the functions online tradingor by contacting your contact person at the bank or post office where you have a current account with the securities deposit account.
The investment can start from a minimum of 1,000 euros, always having the certainty of seeing the requested amount subscribed. The security is purchased at par (price equal to 100) and without commissions during the placement days.
Preferential taxation and ISEE exemption
The usual preferential taxation is provided for all government bonds at 12.5% on coupons and loyalty bonus, the exemption from inheritance taxes, as well as – as provided for by the budget law for 2024 – the exclusion from the ISEE calculation until to 50,000 euros, upon completion of the implementation process of the measure.
Subscribers, as always, will be able to sell all or part of the security before its maturity, without constraints and at market conditions.
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