The Italian treasury will launch one new nominal government bond, or BTP, in the fourth quarter, with maturity in January 2032, it said in its quarterly guidance on Monday.

The treasury will target a minimum outstanding volume of 10 billion euros ($11.39 billion) in the new BTP, it said. The minimum final outstanding is the overall issuance volume a bond has to reach before it is replaced by a new benchmark.

The new bond will be launched at an auction on Tuesday.