Republic of Italy (ITGV) 2021-4

CCYSZE(M)TNRMTYRNKMOSPFIDRTYPEBNCHIPTGDNCSPRDCPNNICPRICE
EUR7,000.0006.9Mar-28Sr. UnsecuredBaa3BBBBBB-BBB (H)FixedBTP-BTP+10-12 a90.25%-99.23800
EUR5,000.00050Mar-72Sr. UnsecuredBaa3BBBBBB-BBB (H)FixedBTP-BTP+48-50 a472.15%-99.46700
Tranche Comments
6.9 yr: Book size: 66000; Registration: 144A/Reg S; Comments: EUR7bn 0.25% Mar 2028 reopening. With new 50yr (Mar 1 2072) BTP. RegS/144A. Baa3/BBB/BBB-/BBBH. Barc/BofA/JPM/SG/Uni. IPTs BTP 0.95% 9/27+12 area, revised +10 (+/-1 WPIR), set +9, launch 7bn, bk >66bn (2.55bn JLM). +AI, immediate funge. BTP@104.32 / 0.272%; 50 yr: Book size: 64000; Registration: 144A/Reg S; Comments: EUR5bn 50yr (Mar 1 2072) BTP. With 0.25% Mar 2028 reopening. RegS/144A. Baa3/BBB/BBB-/BBBH. Barc/BofA/JPM/SG/Uni. Guidance BTP 1.7% 51+50 area, revised +48 (+/-1 WPIR), set +47, launch 5bn, bk >64bn (2.7bn JLM), BTP@99.95 / 1.709%. FTT 4pm;
Deal Comments
EUR7bn tap of 0.25% due 3/15/2028.