Amadeusz Juskowiak

Italian treasury cuts interest on certificates

The Italian treasury said annual coupon rates payable March 1988 on two issues of longterm treasury certificates CCTs would be cut by about four percentage points compared with rates this March

Coupon rates on 10year certificates maturing March 1995 will fall to 980 pct from 1365 pct and rates on 10year issues maturing in March 1996 would fall to 1005 pct from 1430 pct

The Treasury also cut by 060 point sixmonthly coupons payable this September on six issues maturing between September 1988 and September 1991

The issues carry terms of between five and seven years and will have coupon rates of between 485 and 565 pct in September compared with 545 and 625 pct this March

REUTER