October 17, 2018 / 11:11 AM / a month ago

Italy hires banks for syndicated exchange of 2020 BTP Italia bond

MILAN, Oct 17 (Reuters) - Italy’s Treasury said on Wednesday it had hired three banks to place via a syndicate five nominal bonds in exchange for its April 2020 BTP Italia retail linker.

The Treasury hired Banca IMI, Monte dei Paschi and UniCredit to buy back around 3 billion euros ($3.5 billion) of the BTP Italia bond to reduce the amount to be redeemed at maturity.

The same banks will place in exchange BTP bonds due in 2025, 2026, 2028, 2029 and 2046.

The exchange auction will take place on Thursday, the Treasury said in a statement. ($1 = 0.8659 euros) (Reporting by Francesca Landini, editing by Valentina Za)

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