May 6, 2020 / 10:56 AM / 25 days ago

Italy sells top amount in new placement reserved for primary dealers

ROME, May 6 (Reuters) - Italy’s Treasury sold on Wednesday the top planned amount of 1 billion euros ($1.08 billion) over two BTP bonds, in the first of a new type of bond sales reserved for primary dealers.

The Treasury sold 467 million euros of a BTP note maturing on March 1, 2026, at a 1.445% gross yield, and 533 million euros of a BTP bond due Feb. 1, 2028, paying 1.676%.

The Treasury recently introduced the new sales to step up debt issuance in order to finance spending for the coronavirus emergency, which has hit hard the country. ($1 = 0.9262 euros) (Reporting by Antonella Cinelli, editing by Giulia Segreti)

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