For the first four years the coupon rate will remain unchanged, while those for the following four-year periods might be revised upwards, based on market conditions.
Unlike previous issuances, the BTP Futura's "loyalty premium", linked to Italy's nominal gross domestic product growth, will be paid in two tranches, at the end of the first eight years and at maturity.
MILAN: Italy's new BTP Futura bond, a retail instrument maturing in April 2037 aimed at funding coronavirus-related spending, attracted total bids for 5.48 billion euros ($6.61 billion) at the end of a five-day offer, bourse data showed on Friday.
The Treasury will set the final coupon rates later on Friday.
For the first four years the coupon rate will remain unchanged, while those for the following four-year periods might be revised upwards, based on market conditions.
Unlike previous issuances, the BTP Futura's "loyalty premium", linked to Italy's nominal gross domestic product growth, will be paid in two tranches, at the end of the first eight years and at maturity.
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