January 10, 2018 / 10:28 AM / a year ago

Italy's new 20-yr bond draws more than 20 bln euros in orders-lead

MILAN, Jan 10 (Reuters) - A new 20-year nominal BTP bond Italy started offering on Wednesday has drawn more than 20 billion euros ($23.9 billion)in orders so far, an official at one of the banks managing the issue said.

The new BTP bond, which expires in Sept. 2038, is expected to be priced to offer a yield premium of around 17 basis points over rival Sept. 2036 BTP bond.

Orders include 2.95 billion euros the Italian Treasury received from joint lead managers Banca IMI, Barclays Bank, ING Bank, JP Morgan and Royal Bank of Scotland. ($1 = 0.8375 euros) (Reporting by Elvira Pollina, writing by Valentina Za, editing by Agnieszka Flak)

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