Italian Treasury details BTP Italia Sì launch and reports May bond auction results

The Ministry of Economy and Finance (MEF) explained how the new retail inflation‑linked bond, BTP Italia Sì, will be placed from 15 June to 19 June 2026. The semi‑annual coupon combines a fixed component, determined by the annual coupon rate announced on 12 June, with an inflation component calculated as max(0, 100 × (CI(d,m)−1)), where CI is the daily FOI inflation index ratio. The first coupon accrues from 23 June 2026, with subsequent payments on 23 June and 23 December each year. The bond is reserved for individual savers.

Separate from the new issue, Italy's Treasury completed its May 2024 auction series for BTP, BOT and CCT securities, raising more than €25 billion. Short‑term BTPs yielded about 2.5 % while medium‑ and long‑term issues returned above 3.7 %. All instruments saw strong demand, with coverage ratios above 1.5. Highlights include €5.875 billion from the 26 May auction (including BTP Short Term, 5‑year and 20‑year BTP€i) and €8.25 billion from the 28 May BOT and longer‑term BTP/CCT sales.