July 6, 2020 / 5:22 PM / a month ago

Italy debt chief says retail bond offer going better than expected

ROME (Reuters) - The Italian Treasury’s head of debt management said on Monday that the issuance of the “BTP Futura” bond for retail investors is going better than the Treasury had anticipated.

Orders for the bond, whose proceeds will fund spending related to Italy’s coronavirus crisis, reached 2.37 billion euros ($2.68 billion) on the first day of the offering, which will run until Friday, bourse data showed.

“I would say that so far the placement is going pretty much beyond our expectations, so far our assessment is certainly very positive,” debt chief Davide Iacovoni told Class CNBC in a video interview.

The Treasury is considering another BTP Futura issuance before the end of this year, Iacovoni said, adding that he was “moderately optimistic” that current orderly market conditions for Italian debt would continue through this year.

Reporting by Giuseppe Fonte, writing by Gavin Jones, editing by Angelo Amante

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