Italy placed its first interest-free BTP
October 15, 2020
Italy issued its first BTP (Buoni Tesoro Poliennali) with a zero coupon rate on Tuesday, October 13. The €3.75 bn bond with 3-year maturity had a yield of minus 0.14% in the auction.
The demand for the securities exceeded supply by 1.4 times. The solid auction indicates the continued interest in the Italian notes due to the ongoing bond-buying program by the European Central Bank (ECB) as part of an emergency plan to support the economy.
The country also placed €3.75 bn of 7-year and 30-year debt at record-low yields - 0.34% and 1.48%.
Issue — Italy, BTP 0% 15jan2024, EUR
Country of riskItaly
Redemption (put/call option)
М/S&P/F— / — / —
Company — Italy