Italy to issue new 20-yr BTP bond for 9bn euros

MILAN: Italy will issue 9 billion euros ($11 billion) of a new 20-year nominal BTP bond after demand for the issue topped 31 billion euros, an official at one of the banks managing the deal said.

The new bond, maturing in Sept. 2038, will be priced to offer a premium of 16 basis points over the yield of the Sept. 2036 BTP bond, the person said.

Banca IMI, Barclays Bank, ING Bank, JP Morgan and Royal Bank of Scotland are joint lead managers on the transaction.