July 10, 2019 / 6:34 AM / 10 days ago

Italy 50-yr bond drew bumper demand from Germany - debt management chief

ROME, July 10 (Reuters) - More than 80% of the demand for Italy’s 50-year debt issue on Tuesday came from foreign investors, with Germany in the forefront, the head of the Treasury’s debt management office told Reuters.

The 3-billion-euro top-up of the 2.80% March 2067 bond drew bids of more than 17 billion euros, with a final yield of 2.877%.

“The response was very good,” Davide Iacovoni said in an interview.

He said 84% of the total demand came from abroad. Some 35% were German buyers, 22% were from Britain and the rest were mainly in continental Europe. Outside Europe, U.S investors bought around 8%, while just 2% went to Asia.

In terms of account types, pensions funds and insurers bought some 32%, fund managers took up 31%, while 21% went to banks and 13% to hedge funds. Central banks and other official institutions accounted for about 3%, Iacovoni said. (Reporting by Giuseppe Fonte and Gavin Jones, editing by Giselda Vagnoni)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below