June 11, 2019 / 4:56 PM / 4 months ago

UPDATE 1-Italy mandates banks for syndicated sale of new 20-yr BTP bond

(Adds confirmation)

MILAN, June 11 (Reuters) - Italy has mandated banks for a syndicated sale of a new 20-year BTP bond, the Treasury said on Tuesday.

Morgan Stanley, Monte dei Paschi di Siena Capital Services, NatWest Markets, Nomura and Societe Generale have been appointed joint-lead managers of the deal, it said in a statement. The new bond will mature on March 1, 2040.

The sale will be held in the near future, depending on market conditions, the statement said.

Worries about a bitter global trade war and risks of recession have pushed investors into longer-dated bonds in recent weeks, pushing Italian 10-year yields towards its lowest level in a year.

Reporting by Elvira Pollina, editing by Silvia Aloisi and Gareth Jones

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