By Laura Contemori – ROME (Econostream) – Italy’s Ministry of Economy and Finance (MEF) on Monday mandated six banks for a dual-tranche syndicated tap of its 7-year and 30-year benchmark BTPs.

Banco Santander SA, BNP Paribas, BofA Securities Europe S.A., Goldman Sachs Bank Europe SE, J.P. Morgan SE and Morgan Stanley Europe SE were appointed to lead a syndicated reopening of the BTP due June 15, 2033 and the BTP due October 1, 2055.

MEF said the amount to be issued in the 30-year BTP would not exceed €5 billion, specifying that the transaction would be conducted on a no-grow basis.

The deal will be launched in the near future, subject to market conditions, MEF said in a press release.

As a consequence of the syndication, the auctions of 7-year and longer-than-10-year BTPs scheduled for June 11 will not take place, it added.