First billion euros of subscriptions for the BTP Valore, the government bond intended for small savers whose placement opens today.
The bond, which has a duration of six years, offers a coupon of 3.25% in the first three years and 4% in the remaining three, with a premium of 0.7% for those who hold it to maturity which brings the average annual return at 3.74%.
The placement will continue until 1pm on Friday, unless it closes early.
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