Home Business 30-year dollar government bonds, double demand for supply. Strong interest from Asia

30-year dollar government bonds, double demand for supply. Strong interest from Asia

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The reopening via syndication of the 30-year bond, denominated in US dollars, issued for the first time on April 27, 2021, with maturity on May 6, 2051 and a coupon rate of 3.875% paid in two semiannuals, was reopened for € 1 billion to in the face of an overall demand recorded before the issue rate was set equal to approximately € 2.2 billion.

According to the findings of the Ministry of Economy and Finance, the distribution by type of investor was as follows: insurance and pension funds 62%, fund managers 26%, banks 9%, central banks and other government institutions 2% and hedge funds 1%.

The geographical distribution of the title was extremely diversified, with a stake that saw the involvement of a multiplicity of geographical areas. To highlight the share subscribed by investors resident in Asia, equal to 44%, which represents the largest allocation in the region since the return of the Italian Republic to the dollar market in 2019. Investors resident in Europe amounted to 28% (of of which Italian institutional investors 14%). The remainder of the placement was allocated to the Americas at 17%, the United Kingdom at 9%, and the Middle East and Africa at 2%.

The placement was carried out through the establishment of a syndicate consisting of BNP Paribas, Citigroup Global Markets Europe AG and HSBC Continental Europe, who participated as lead manager, while all the other Government bond specialists played the role of co -lead manager of the operation.

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