The placement of BtpValue failed to reach or come close to the 12 billion euro threshold hoped for the day before, but the operation still confirms itself as a success for the Italian Treasury, which this morning also placed 9 billion medium-long term BTPs at yields interesting.
Just over 11 billion placed
The Ministry of Economy and Finance confirmed that the placement is closed with 11,226.556 million euros raised and 384,295 contracts registered on the MOT market managed by Borsa Italiana. A value significantly lower than the 18 billion placed at the end of February, even if adding the two issues together gives a very respectable figure of 29.2 billion collected within a couple of months.
Launched last year, the BTP Valore had raised so far a total of 53.7 billion of Euro. Last February, again with a six-year BTP Valore, the Treasury had raised 18.32 billion euros, while in the October 2023 edition (maturity 5 years) it stopped at 17.19 billion euros and in the first ( maturity 4 years) had settled at 18.19 billion euros.
Minimum returns confirmed
The Treasury then confirmed the minimum guaranteed rates announced before the start of the placement: which are equal to 3.35% for the first three years and 3.9% for the following years Three. For those who will hold the title until the expiry of 6 years there will also be a 0.8% loyalty bonus which brings the effective return on the investment to 3.68%, a very interesting rate compared to those practiced on the market at the moment and certainly not repeatable, given that the ECB is preparing to cut rates in June.
Another 9 billion BTPs placed
In the’medium-long term ordinary auction held this morning were then raised another 9.25 billion of Euro. In particular, the Treasury placed 2 billion 3-year BTPs maturing in 2027 at a rate of 3.32%, stable compared to the previous one, 1 billion 3-year BTPs maturing in 2026 at a yield of 3.28% and 4, 5 billion 7-year BTPs at a yield of 3.52%. Longer-term securities were also placed: 1 billion 16-year BTPs expiring in 2040, at a yield of 4.14%, and 750 million 50-year BTPs at a rate of 3.96%.
