June 13, 2019 / 11:18 AM / a month ago

Foreign investors took 64% of Italy's new 2040 BTP bond-Treasury

MILAN, June 13 (Reuters) - Foreign investors have taken up 64% of a new 20-year Italian nominal bond the Treasury sold on Wednesday for 6 billion euros ($7 billion), drawing four times that amount in demand.

The Treasury said in a statement investors based in Great Britain had snapped up 37% of the issue, followed by buyers in Germany-Austria-Switzerland which took a combined 9% share. Spain accounted for another 5% and Scandinavia for 4%.

U.S. investors bought 2% of the bond.

The Treasury said demand came from 230 investors and roughly half of the issue was placed with fund managers while banks took some 30%, hedge funds 12% and pension funds and insurers 6%. ($1 = 0.8862 euros) (Reporting by Valentina Za,editing by Silvia Aloisi)

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