FRANKFURT (MNI) – The German federal government confirmed Tuesday
that it will sell about E5 billion in a top-up of its 3.00%-coupon July
2020 10-year bund on July 7.
The formal tender for the auction will be announced on Tuesday,
July 6. Bids for the top-up are due by 09:00 GMT on Wednesday, July 7,
with results of the allocation to be announced shortly thereafter.
The top-up tranche will settle on Friday, July 9.
Given the E17 billion of the 10-year bond already issued, the
top-up will bring total volume outstanding to E22 billion for the
security, which matures on July 4, 2020 and is strippable.
–Frankfurt bureau: +49-69-720142; frankfurt@marketnews.com
[TOPICS: M$G$$$,M$$FI$,MGX$$$]
