January 18, 2017 / 6:08 PM / 7 months ago

Italy placed 60-65 pct of new 15-yr bond abroad

MILAN, Jan 18 (Reuters) - Italy has placed 60-65 percent of a new 15-year bond it issued on Wednesday with foreign investors, in a sign of confidence in its debt despite a sovereign downgrade by DBRS rating agency last week, an official managing the sale said.

The person said U.S. investors took up around 30 percent of the 6 billion euro issue while a 20-25 percent share had gone to British investors. A 10 percent was bought by investors in Continental Europe.

The official also said allocation had given precedence to long-term investors, more likely to keep the bond in their portfolios, over opportunistic investors such as hedge-funds.

Reporting by Giulio Piovaccari, writing by Valentina Za

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