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Italy closes BTP Italia sale to institutionals early, orders top 9 bln euros
April 17, 2014 / 7:32 AM / 4 years ago

Italy closes BTP Italia sale to institutionals early, orders top 9 bln euros

MILAN, April 17 (Reuters) - Italy will halt the sale of its new BTP Italia inflation-linked bond to professional investors just 40 minutes after its launch, the Treasury said on Thursday, after orders quickly topped 9 billion euros.

Small investors have already secured 10 billion euros of the April 2020 bond tied to Italian inflation which the Treasury is offering during a four-day sale.

The first three days were reserved to small savers and the Treasury closed that sale early at 1200 GMT on Wednesday.

The Treasury fills in full demand for the BTP Italia bonds.

The new BTP Italia for the first time has a six-year instead of a four-year maturity and will pay a real coupon of at least 1.65 percent, lower than past issues, plus inflation. (Reporting by Valentina Za, editing by Stephen Jewkes)

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