STEP 1-Treasury exploits effect Qe and announces new 15 years – Reuters Italy

       

* First indications yield 12 points rely on the current benchmark

       

* For strategist, final spread could be lower

       

* Window favorable market without emissions periphery (Rewrites, adds details and context)

       

Elvira Pollina

       

MILAN, March 16 (Reuters) – A week after the start of ‘quantitative easing’ ECB extended to government bonds, the Italian Treasury has announced the launch of a new BTP 15 years via the union, in order to exploit The current phase of extraordinarily low interest rates to continue with the strategy to extend the life of the debt.

       

The placement of the new BTP March 2032, which could take place as early as tomorrow, will be managed by a syndicate of banks consisting of Barclays, Credit Agricole, Goldman Sachs, Monte dei Paschi di Siena and Royal Bank of Scotland.

       

Last week the news of the possible launch of a new 15-year BTP was anticipated to Reuters by sources close to the situation. To push the Treasury towards this direction, the reluctance of many investors in making budget listed securities over the same too.

       

The first indications of return of the new benchmark, according to reports by a lead manager, are 12 basis points over that offered by March 2030, the current reference.

       

“I seem generous, it is possible that the final pricing provides a spread lower than the current 15 years. Much will depend on demand, I expect still substantial,” said Elijah Lettuce, strategist at UniCredit. More …