Italy’s New 15-Year Bond Draws Record €157 Billion in Orders

Italy successfully raised 14 billion euros ($16.51 billion) through the issuance of a new 15-year government bond maturing in October 2041. The sale, conducted via a bank syndicate on Tuesday, saw overwhelming investor demand with orderbooks exceeding 157 billion euros, according to lead manager banks.

February 3, 2026, 05:39 PM 0 0

The massive oversubscription underscores a robust appetite for Italian sovereign debt despite shifting interest rate expectations across the eurozone. The transaction’s final spread was fixed at 8 basis points above the yield of the existing 3.85% October 2040 BTP, reflecting a competitive pricing environment for the Treasury.

Pricing and Market Reception

The new bond carries a 3.95% coupon and was priced at 99.990, resulting in a final yield of 3.990%. This issuance allows the Italian Treasury to extend its debt maturity profile while tapping into deep pools of institutional liquidity.

Six major financial institutions acted as bookrunners for the transaction: