Second auction of the triptych at the end of the month. Today the Ministry of Economy and Finance (MEF) has placed the following government bonds for a total amount of 4.5 billion euros:
- BOT 12 months (reopening – remaining life 5 months)
- BOT 6 months (reopening – residual life 5 months).
Let’s see the details below.
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365 day BOT
Here are the main features of the 12-month BOTs on offer (reopening – residual life 5 months):
- ISIN code: IT0005575482
- Tranche: 3to
- Issuing date: December 14, 2023
- Expiration: December 13, 2024
- Simple weighted average return: +3.631%
- Amount offered: 2 billion
- Required amount: 3 billion
- Amount assigned: 2 billion
- Coverage ratio: 1.52
- Weighted average price: 98,334
- Amount in circulation: 9.5 billion.
182 day BOT
Here are the main characteristics of the 6-month BOTs on offer (reopening – 5 months residual life):
- ISIN code: IT0005596538
- Tranche: 3to
- Issuing date: May 31, 2024
- Expiration: November 29, 2024
- Simple weighted average return: +3.685%
- Amount offered: 2.5 billion
- Required amount: 3.7 billion
- Amount assigned: 2.5 billion
- Coverage ratio: 1.49
- Weighted average price: 98,448
- Amount in circulation: 8.5 billion.
Additional general information
There strong demandbetween 1.42 and 1.52 times the amount offered, demonstrates a significant interest from investors for these titles.
The gross yield of annual BOTs is +3.631%, the average between the simple maximum return (3.634%) and the simple minimum return (3.620%), while the exclusion return is 4.629%.
The gross yield of six-month BOTs is +3.685%, the average between the simple maximum return (3.689%) and the simple minimum return (3.673%), while the exclusion return is 4.682%.
THE BOTs are auctioned with the competitive auction placement system, with operators’ requests expressed in terms of performance. Vouchers can be subscribed for a minimum amount of one thousand euros. The MEF recalled that as of 28 June 2024 a total amount of BOTs will be in circulation (both semi-annual and annual) equal to 132 billion.
Finally, let us remember that the medium-long term auction is scheduled for tomorrow 27 June, the last one of the current month.
Here are all the latest Treasury auctions of the month Of June:
