Italy launches 20-year bond sale at 16 bps area over 2038 BTP  

MILAN: Italy launched a 20-year syndicated bond sale on Wednesday, setting an initial price guidance in an area of 16 basis points over its outstanding September 2038, BTP bond, according to a lead manager.

The Treasury is now testing interest and expects to price the deal later on Wednesday. The new bond will mature on March 1, 2040.

Morgan Stanley, Monte dei Paschi di Siena Capital Services, NatWest Markets, Nomura and Societe Generale are joint-lead managers of the deal.