Italy enters Futura with modest reception from retail investors

By Burhan Khadbai
13 Jul 2020

Italy did not set the world alight with the sale of its first government bond targeted exclusively to retail investors. The proceeds will be used to finance measures related to Italy's post-Covid-19 economic recovery.

Following a week-long placement period that ended on Friday, July 10, the sovereign received €6.132bn of interest from 174,318 retail accounts on the MOT platform via Banca Imi and UniCredit for its inaugural ‘BTP Futura’. That means they asked for an average of €35,000 each.

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