Strong demand for reopening of Italy's first Green BTP bond

The government security is the country's first green BTP bond

  

ROME- Italy's tap of the Green BTP bond due April 30, 2045 attracted final orders of more than 55 billion euros ($55.79 billion) on Wednesday, a lead manager said.

The yield on the note, reopened for 5 billion euros, was fixed at 10 basis points over the March 2041 BTP bond, below the initial level of 12 bps, the lead manager added.

The reoffer price was set at 96.717, with a yield of 1.676%.

The Treasury said on Tuesday it had given a mandate to BofA Securities Europe, Crédit Agricole Inv. Bank, Deutsche Bank, MPS Capital Services and Nomura Financial Products Europe GmbH.

The government security is the country's first green BTP bond. It was issued last March when the Treasury raised 8.5 billion euros after receiving orders in excess of 80 billion euros on the back of the growing appeal of environmentally friendly assets.

In March foreign investors bought 73.7% of the bond.

The proceeds of the issue will be used to fund state spending with a positive environmental impact. ($1 = 0.8604 euros)

(Reporting by Antonella Cinelli, editing by Philippa Fletcher) ((antonella.cinelli@thomsonreuters.com; +390680307712;))


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