By Emese Bartha

Italy will launch a new series of BTP Italia--a retail-oriented government bond indexed to the Italian inflation rate--, with subscriptions running between March 6 and March 9, the Italian Ministry of Economy and Finance said Monday.

The next BTP Italia will have a maturity of five years and a bonus payment equal to 0.8% for retail investors who will purchase the BTP Italia at issuance and hold it continuously until the final maturity of March 14, 2028, it said.

Similar to previous BTP Italia issues, the new bond will be placed in two phases. Subscriptions will run for retail investors between March 6 and March 8, unless early closing, while the second phase, which will take place in the morning of March 9, will be reserved to institutional investors, the ministry said.

The guaranteed minimum annual real coupon rates will be announced on March 3, it said.

Write to Emese Bartha at emese.bartha@wsj.com

(END) Dow Jones Newswires

February 06, 2023 09:29 ET (14:29 GMT)