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Italy sets new BTP Italia minimum coupon at 0.25 pct
November 10, 2017 / 12:19 PM / 13 days ago

Italy sets new BTP Italia minimum coupon at 0.25 pct

MILAN, Nov 10 (Reuters) - The Italian Treasury set on Friday the minimum coupon on a new Btp Italia bond it will offer to investors next week at 0.25 percent.

Aimed primarily at small savers, BTP Italia bonds pay a premium over Italy’s inflation rate. The Treasury sets a minimum coupon before the four-day offering and, at the end of it, can either confirm that level or raise it.

Italy first introduced BTP Italia bonds at the height of the euro zone crisis to tap large domestic savings when foreign investors shunned its debt.

The first issues proved hugely successful including with institutional buyers, leading to some record-sized sales and prompting the Treasury to put a cap on the amount offered to professional investors. (Reporting by Valentina Za; editing by Francesca Landini)

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