Bot Auction April 2024: Completed Issuance, Yield, and Features

Auction Results: BOT Treasury Bills April 24th

The auction of BOT Treasury Bills scheduled by the Italian Ministry of Economy and Finance on April 24th has taken place with the placement of three titles as specified by the Bank of Italy.

Details of the BOT Auction on April 24th, 2024

The placement involved three annual BOTs with a remaining maturity between 3 and 6 months, totaling an issuance of 6 billion euros.
Additionally, the Treasury’s note establishes that on April 26th, there is a deadline for additional placement of BOTs (at 3:30 pm), with settlement date on April 29th.

Here are the specifics of the April 24th BOT auction, detailing the ISIN code, duration, yield, and offered amount:

• BOT 12 Months
  • Remaining Maturity: 3 months
  • Issuance Date: 14/07/2023
  • Maturity Date: 12/07/2024
  • Duration: 74 days
  • ISIN Code: IT0005555963
  • Offered Amount: 1.5 billion euros
  • Requested Amount: 2.22 billion euros
  • Weighted Average Yield: 3.737%
  • Weighted Average Price: 99.238 euros
• BOT 12 Months
  • Remaining Maturity: 4 months
  • Issuance Date: 14/08/2023
  • Maturity Date: 14/08/2024
  • Duration: 107 days
  • ISIN Code: IT0005559817
  • Offered Amount: 1.5 billion euros
  • Requested Amount: 2.31 billion euros
  • Weighted Average Yield: 3.734%
  • Weighted Average Price: 98.902 euros
• BOT 12 Months
  • Remaining Maturity: 6 months
  • Issuance Date: 14/11/2023
  • Maturity Date: 14/11/2024
  • Duration: 199 days
  • ISIN Code: IT0005570855
  • Offered Amount: 3 billion euros
  • Requested Amount: 4.46 billion euros
  • Weighted Average Yield: 3.661%
  • Weighted Average Price: 98.016 euros

The Ministry of Economy and Finance’s note specifies that for the BOTs at 74 days, 107 days, and 199 days, the maximum commission is set at 0.03%, 0.05%, and 0.10%, respectively.
The minimum subscription is 1,000 euros.

Each BOT’s tax reference price is the weighted average price of the first tranche, calculated based on the corresponding weighted average yield.
The BOTs are issued through the competitive auction system, with operators’ bids expressed in terms of yield.

It is noted that the additional placement offer is set at 10% of the nominal amount offered in the regular auction, determined according to the criteria outlined in the issuance decree.

For further insights on BOTs and investment opportunities, you can also read about Treasury Bills.