(Adds details, comment)
MILAN, May 8 (Reuters) - Italy's Treasury said on Monday
it would offer a new 4-year BTP bond as part of a new group of
notes dedicated to retail investors, named "BTP Valore" (BTP
Value), as Rome seeks to increase private Italians' holdings of
the country's debt.
Rome is seeking new bond buyers for its huge debt -
proportionally the second highest in the euro zone - as the
European Central Bank continues to offload sovereign debt from
its holdings.
The new issue will be offered from June 5 to 9 and will have
step-up coupons and a loyalty premium, the Treasury said in a
statement.
The "BTP Valore" will be offered on the Milan bourse's MOT
exchange platform as are other bonds for retail investors, BTP
Italia and BTP Futura.
"Each BTP Valore offer will have a different coupon
structure, but they will always be retail-only placements, with
simplified, at-par purchases, no fees or caps on buying, and
with some form of loyalty premium," Italy head of debt, Davide
Iacovoni, told Reuters.
Early in March a source close to the matter said the
Treasury was working on a new bond dedicated to small savers.
($1 = 0.9051 euros)
(Reporting by Sara Rossi, editing by Cristina Carlevaro and
Emelia Sithole-Matarise)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.