BTP Valore, another success: €16.6 billion raised from over half a million savers

Boom in subscriptions for the 7-year government bond reserved for small investors: more than 506,000 subscribers and yields of up to 4%.

The latest issue of the BTP Valore — the government bond designed for individual investors — closes with another triumph for the Italian Treasury. By the final bell on Friday, October 24, the offering had collected €16.6 billion in orders, with over 506,000 investors deciding to add the seven-year bond to their portfolios.

Interest remained strong until the very last day: on the final trading day alone, more than 42,000 contracts were submitted, worth a total of €1.2 billion. The average investment was substantial, around €32,688, signaling growing confidence among savers in Italy’s public debt.

Attention now turns to the final interest rates, which the Ministry of Economy will announce shortly. These cannot fall below the minimum levels set beforehand: 2.6% for the first three years, 3.1% for the fourth and fifth years, and 4% for the final two years. Investors who hold the bond until maturity in 2032 will also receive a loyalty bonus of 0.8%.

Including this incentive, the effective annual yield reaches 3.248% gross (2.842% net) — a return that has attracted a wide range of investors, from small savers to those making million-euro subscriptions.

In the first four days of the offering alone, more than €15 billion had already been raised, confirming the bond’s strong appeal in a context of still-favorable interest rates. With this new edition, the BTP Valore strengthens its position as one of the most popular instruments among retail investors, offering a balance between security and yield.

Andrea Pelucchi