February 12, 2020 / 3:37 PM / 7 days ago

Foreign investors bought over 63% of Italy's new 15-yr BTP bond

ROME, Feb 12 (Reuters) - Foreign investors bought 63.4% of the new 15-year BTP bond issued by Italy, the Treasury said on Wednesday.

Rome sold 9 billion euros ($9.80 billion) of the new notes through a syndicate deal on Tuesday, drawing record demand.

Total orders were over 50 billion euros ($54.47 billion), with more than 400 investors that took part to the transaction, the Treasury said in a statement.

U.S. investors accounted for 13.3% of the issue, while 45.2% of the placement was allotted to investors from Europe and 2.7% to Asian investors, the Treasury said.

About 53% of the issuance was allotted to fund managers whereas about 23% was subscribed by banks.

Investors with a long-term horizon bought 18.5% of the issuance, hedge funds 12%. ($1 = 0.9180 euros) (Reporting by Antonella Cinelli, editing by Gianluca Semeraro)

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