By Laura Contemori – ROME (Econostream) – Italy’s Ministry of Economy and Finance (MEF) on Tuesday priced a $6 billion triple-tranche syndicated U.S. dollar bond issue under the Italian Republic’s Program for the Issuance of Debt Instruments.

MEF issued $2.5 billion of a 4.500% bond due July 14, 2031. The deal was reoffered at 99.443 for a gross annual yield of 4.626%, with demand totaling $7.6 billion.

The ministry also issued $2.5 billion of a 5.125% bond due July 14, 2036. The tranche was reoffered at 99.683 for a gross annual yield of 5.166%, with demand reaching $8.0 billion.

MEF sold a further $1 billion of a 6.000% bond due July 14, 2056. The deal was reoffered at 98.617 for a gross annual yield of 6.101%, with demand amounting to $4.4 billion.

The accrual date for all three tranches is July 14, 2026.

BofA Securities Europe SA, Citigroup Global Markets Europe AG, Goldman Sachs Bank Europe SE and Morgan Stanley Europe SE acted as lead managers.

The ministry said details on demand composition would be published in its next press release.