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Italian Treasury auctions €7.5bn in long-term debt

Date: Monday 30 Jan 2012

Italian Treasury auctions €7.5bn in long-term debt

The Italian Treasury has today auctioned €7.455bn in long-term debt, with what on the whole, and at first glance, looks to be rather positive results.

To be taken into account, the auctions have been carried out against a backdrop of rather negative news coming out from the Eurozone periphery over the weekend, with Italian 10 year yields having been rising throughout the morning and the European Central Bank said to be showing possible buying interest by checking prices on Italian bonds.

Another factor in play may be the rather heavy debt auction schedule for this week, with sales still on tap from Belgium, France, Germany and Spain.

The Italian Treasury auction results have been:

1. €3.574bn in debt coming due in 2017, with a bid-to-cover ratio of 1.297 (Previous: 1.42) and at a yield of 5.39% (Previous: 6.47%).

2. €2.0bn in debt maturing in 2022, at a bid-to-cover ratio of 1.416, versus 1.36 the last time around and at a yield of 6.08% (Previous: 6.98%).

3. 746m in April 2016 debt with a bid-to-cover ratio of 1.87 and at a yield of 4.79% (Previous: 6.47%).

4. €1.155bln in March 2021 debt at a yield of 5.74% (Previous: 4.730%) and with a bid-to-cover of 1.5.

AB

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