June 2, 2020 / 2:27 PM / a month ago

UPDATE 1-Italy Treasury hires banks to issue new syndicated 10-year BTP bond

(Adds details, context)

MILAN, June 2 (Reuters) - Italy’s Treasury said on Tuesday it had hired banks to manage the sale of a new 10-year benchmark government bond in a syndicated deal.

The transaction for the new BTP bond, which matures on Dec. 1, 2030, is expected “to be launched in the near future, subject to market conditions”, the Treasury said.

Early this year Rome said that, due to heavier financial needs triggered by the coronavirus crisis, it could issue bonds with maturities of 10 years or less through syndicated deals that had so far been reserved for longer maturities or inflation-linked bonds.

BNP Paribas, Citigroup, HSBC France, Monte dei Paschi di Siena Capital Services, NatWest and UniCredit would manage the sale, it said.

The Treasury said the planned sale of a new 7-year benchmark BTP bond, originally scheduled for the second quarter of this year, would be postponed to the third quarter to take into account the deal announced on Tuesday. (Reporting by Giulio Piovaccari, editing by Stephen Jewkes and Alex Richardson)

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