Italy satisfies demand for longer dates

Italy has issued its first syndicated BTP since May 2008, a new 15 year, attracting a book of almost Eu8bn and printing Eu5.5bn. Initial guidance of 19bp-24bp over the August 2023 BTP was revised to 20bp-23bp, and final pricing was set at plus 20bp. Nearly three-quarters of the deal was placed outside Italy with France and the UK pitching in with 25% and 20% of orders. Read Friday’s EuroWeek for coverage of Italy.