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The second day of placement of Btp Value, the Mef retail bond designed for small Italian savers (1,000 euros is enough to buy it) continues more or less at the same pace as the first day. On Tuesday, May 7, at 10:10 am, orders reached quota 500 million euroswith just under 20,000 contracts signed.
After the first day, the six-storey retail stock, which has minimum rising rates of 3.35% for the first three and 3.9% for the subsequent ones, it raised 3.7 billion. Data in line with the estimate of sources close to the Mef, who expect a collection of around 10 billion for the entire placement. It is not expected that the record of February 2024, i.e. 18.3 billion raised, can be beaten this time.
An extraordinary edition
«This is an extraordinary edition, in the sense that it was not foreseen, but given the great demand we decided to repeat it». These are the words of the Minister of Economy, Giancarlo Giorgetti, on the eve of the start of the issue. The Treasury offers, he added, «a security that I believe offers attractive returns and interest payments every three months. We conceived it as one tool especially for pensioners and those who want to have a supplement to their income, perhaps modest but constant over time”.
0.8% loyalty bonus
For those who purchase the security during the issuance phase and hold it until maturity (14 May 2030) there is also a 0.8% loyalty bonus, the highest ever paid for this family of government bonds. The ISIN code of the sovereign bond is IT0005594491, and for the placement the dealer banks Intesa Sanpaolo and Unicredit, and the co-dealers Banca Akros (Banco Bpm group) and Banca Sella were selected by the Mef. The BTP Valore will be listed on the Mot, the electronic bond market of the Italian Stock Exchange.
How to buy it and how much it is taxed
As with previous issues, the BTP Valore can be purchased by individual investors through their home banking, if enabled for online trading, or through their advisor at the bank or post office. Taxation is the classic one for government bonds, at 12.5%., which compares with the 26% expected for most other financial annuities. There is also an exemption from inheritance taxes as well as, as provided for by the budget law for 2024, theexclusion from the ISEE calculation up to 50,000 euros. (All rights reserved)
