BTP Italia November 2028: how the placement is going

As usual, SoldiOnline will follow, with continuous updates, the placement of the BTP Italia November 2028. This is the eighteenth tranche since – in March 2012 – the MEF launched this instrument, indexed to inflation and expressly designed for small savers.

The placement period is between Monday 14 November 2022 and Thursday 17 November. First for savers, then for institutional operators.

READ ALL: The characteristics of the BTP Italia November 2028

BTP ITALIA – EIGHTEENTH TRANCHE: LIVE FIRST DAY (14 NOVEMBER 2022)

16.00 – The placement of the eighteenth tranche of the Italian BTP continues at a good pace. After about seven hours of placement orders for 2.89 billion euros were received on the basis of almost 94 thousand contracts. At the same time in the previous June issue, orders totaled over 3 billion euros, from nearly 78,000 contracts.

2.20 pm – In the early afternoon stages of the placement of the BTP Italia November 2028 total orders reached 2.4 billion euros, based on over 76 thousand contracts. At the same time in the previous June issue, orders totaled 2.5 billion euros, with approximately 63,000 contracts.

13.00 – The BTP Italia November 2028 exceeded the two billion euro countervalue. After about four hours of placement orders have been received for 2.09 billion euros from almost 66 thousand contracts.

11.30 am – The placement of the eighteenth tranche of the Italian BTP continues at a rapid pace. After about two and a half hours of placement orders for € 1.43 billion have been received on the basis of over 45,000 contracts. At the same time in the previous June issue, orders totaled 1.3 billion euros, from 32 thousand contracts.

10.30 am – After about an hour and a half of placement they arrived orders for over 935 million euros from almost 30 thousand contracts. For the previous issue of BTP Italia, just under 20 thousand orders arrived in the dealer’s book at the same time, for a value of € 750 million.

9.30 am – After less than half an hour of placement orders arrived for 337 million euros in value on the basis of over 11 thousand contracts . At the same time in the previous placement of June 2022, requests amounted to 238 million euros for over 7 thousand contracts.

9.00 am – The placement has started of the eighteenth tranche of the BTP Italia. In the previous 17 editions, the Treasury raised about 181.1 billion euros from the instrument in question.

BTP ITALIA, CHARACTERISTICS OF THE EIGHTEENTH ISSUE

The eighteenth tranche of the BTP Italia, the inflation-indexed security dedicated to small savers, will have a placement period between Monday 14 November and Thursday 17 November 2022.

The duration of the tranche placed was set at 6 years; the deadline is thus scheduled for next November 2028.

The guaranteed minimum annual real coupon is 1.6%.

Still expected on loyalty bonus 0.8% for those who buy on issue during the placement phase and will keep the security until maturity.

BTP ITALIA, ISSUE IN TWO PHASES

As already happened in some of the previous issues, the stock will be placed on the market, through the electronic MOT platform of Borsa Italiana, in two phases:

• the first – from Monday 14 November to Wednesday 16 November – will be reserved for individual savers. At this stage, the ISIN code of the security is IT0005517187.
• the second phase, which will take place only in the morning of Thursday 17 November, it will be reserved for institutional investors.

For the general public, it is possible to subscribe the instruments through the bank where the securities dossier is held (via branch or home banking) or through post offices.

BTP ITALIA, THE PERFORMANCES

The BTP Italia detaches its coupon every six months and a revaluation calculated on the cost of living.

In the past few hours, the ministry has communicated the size of the guaranteed minimum coupon, which will be equal to 1.6% net (to which the value of inflation will be added). A yield in line with the rate of the previous tranche.

Here you are guaranteed minimum rates (net) of previous placements:

• First tranche (March 2012): 2.45%.
• Second tranche (June 2012): 3.55%.
• Third tranche (October 2012): 2.55%.
• Fourth tranche (April 2013): 2.25%.
• Fifth tranche (November 2013): 2.15%.
• Sixth tranche (April 2014): 1.65%.
• Seventh tranche (October 2014): 1.15%.
• Eighth tranche (April 2015): 0.5%.
• Ninth tranche (April 2016): 0.4%.
• Tenth tranche (October 2016): 0.35%.
• Eleventh tranche (May 2017): 0.45%.
• Twelfth tranche (November 2017): 0.25%.
• Thirteenth tranche (May 2018): 0.4% (then revised to 0.55%).
• Fourteenth tranche (November 2018): 1.45%.
• Fifteenth tranche (October 2019): 0.6% (then revised to 0.65%).
• Sixteenth tranche (May 2020): 1.4%.
• Seventeenth tranche (June 2022): 1.6%.

BTP ITALIA: THREE PREVIOUS RESULTS

The BTP Italia made its debut in March 2012 and in over 10 years it has brought 181.1 billion euros to the state coffers.

here are the results of previous placements:

• First tranche (March 2012): € 7.29 billion.
• Second tranche (June 2012): € 1.74 billion.
• Third tranche (October 2012): € 18.01 billion.
• Fourth tranche (April 2013): € 17.06 billion.
• Fifth tranche (November 2013): € 22.27 billion.
• Sixth tranche (April 2014): € 20.56 billion.
• Seventh tranche (October 2014): 7.51 billion euros.
• Eighth tranche (April 2015): € 9.38 billion.
• Ninth tranche (April 2016): € 8.01 billion.
• Tenth tranche (October 2016): € 5.22 billion.
• Eleventh tranche (May 2017): € 8.59 billion.
• Twelfth tranche (November 2017): € 7.11 billion.
• Thirteenth tranche (May 2018): € 7.71 billion.
• Fourteenth tranche (November 2018): € 2.16 billion.
• Fifteenth tranche (October 2019): € 6.75 billion.
• Sixteenth tranche (May 2020): € 22.3 billion.
• Seventeenth tranche (June 2022): € 9.44 billion.

BTP ITALIA: CURRENT PRICES