The DIRECTOR GENERAL of the TREASURY Viewed the Decree of the President of the Republic December 30, 2003, # 398 on the consolidated text of laws and regulations relating to public debt, and in particular art. 3, where it is expected that the Minister of finance is authorized, in each financial year, to issue decrees that allow Treasure frame, among other things, borrowing operations domestically or abroad in the forms of financial products and instruments in the short, medium and long term, indicating the nominal amount, the interest rate or the criteria for determination minimum subscription amount, duration, and any other feature placement system and method; Having regard to the Ministerial Decree No. 97587 of December 23, 2014, issued pursuant to art. 3 of the aforementioned Decree of the President of the Republic No. 398 of 2003, where you define financial goals for the year 2015, the limits and the methods which the Treasury Department must follow in making financial transactions referred to in that article predicting that the operations themselves are arranged by the Director General of the Treasury or his delegate, the Director of the second of the Department; View the determination # 100215 of December 20, 2012, by which the Director General of the Treasury has delegated the Director according to the Treasury Department to sign the decrees and acts relating to the operations; Seen the Decree # 29988 of April 10, 2015 she placed the issue of inflation-linked Italian buoni del Tesoro poliennali (BTP Italy «») with enjoyment and deadline April 20, 2015 April 20, 2023, to be offered via the electronic Bond Market-MOT, organized and managed by Borsa italiana S.p.A.; See, in particular, article. 1 of the aforementioned Decree of April 10, 2015, where these characteristics are established "BTP Italy», including the minimum quantity of emission and the minimum amount of the annual coupon rate, and it is expected that with subsequent Decree, to be issued at the end of the placement, will be fixed real coupon measurement in relation to market conditions to the closing of the same period of placement , and will be assessed the amount of securities issued; Given that the employment period has been divided into two phases, day 13, 14 and April 15, 2015 (the «first step») and the day April 16, 2015 (the "second phase"); Having regard to the letter n. 00873 of April 16, 2015, whereby the Borsa Italiana S.p.A. communicated data relating to the placement of these «Italy», BTP took place in 13 days, 14, 15 and April 16, 2015;
Decrees: pursuant to art. 3 of the Decree of the President of the Republic December 30, 2003, n. 398, as well as of the Ministerial Decree n. 97587 of December 23, 2014 and in art. 1 of the Decree of April 10, 2015, all cited in the introduction, the real annual coupon rate of «Italy» April 20, 2015 and expire April 20, 2023 BTP with enjoyment and determined the extent of 0.50%. On the basis of the communication of Borsa italiana S.p.A. of April 16, 2015, invoked in the circumstances, the amount of securities issued is determined at a total 9,379,071,000 euros, of which 5,378,905,000 euros relating to the first phase and 4,000,166,000 euros relating to the second phase. Remain firm all the provisions of the aforementioned Decree of April 10, 2015, which here means all confirmed and invoked. This Decree will be published in the official journal of the Italian Republic.
Roma, April 16, 2015 p. The Director General of the Treasury: Cain