Investors snap up 20 bn euros in Italian bonds

(ANSA) - Rome, April 17 - Italy's Economy Ministry said Thursday it was closing a bond sale early after exceeding its goal for a 20 billion euro offering.
    Institutional investors snapped up 10.49 billion euros worth of Italian bonds, following a 10-billion-euro sale of the new six-year April 2020 bonds to retail investors earlier in the week.
    The inflation-linked bond offers a guaranteed minimum coupon of 1.65%.
    The popularity of Italian paper has pushed down yields to lows not seen since the euro was introduced in 1999, with 10-year BTPs trading as low as 3.08% Thursday morning.
    Analysts say that demand has been steadily rising for Italian paper, particularly since European Central Bank President Mario Draghi pledged in mid-2012 to take whatever action was needed to protect the common currency.