Italy Issues 18 Billion Euros in 2033-, 2055 BTP Syndicated Tap -- Update

By Emese Bartha

Italy issued 18 billion euros ($20.76 billion) in a dual-tranche syndicated government bond tap on Tuesday, one of the lead manager banks said.

Italy sold 13 billion euros in the 3.30% June 2033 BTP for which books closed over 128 billion euros, including joint lead manager interest, one of the banks said. The bond was priced at 98.597, at a yield of 3.559%, the same bank said.

Italy also sold 5 billion euros in the 4.65% October 2055 BTP for which books closed over 112 billion euros, also including joint lead manager interest. The bond was priced at 100.631, at a yield of 4.663%, the same bank said.

The spread on the June 2033 BTP was set at March 2033 BTP yield plus 6 basis points, while the spread on the October 2055 BTP was set at October 2054 BTP yield plus 5 basis points, the same bank said.

Lead managers of the transaction were BNP Paribas, BofA, Goldman Sachs Bank Europe, J.P. Morgan, Morgan Stanley and Santander.

Write to Emese Bartha at [e-mail]

(END) Dow Jones Newswires

06-09-26 0931ET