FRANKFURT (MNI) – Germany sold E925 million in inflation-linked
bonds (“linkers”) in a top up of its 1.75%-coupon 10-year linker with
2020 maturity at a real average yield of 0.70%, the Bundesbank announced
Wednesday.
The real average yield was above the 0.57% real average yield at
the bond’s last auction October 6.
The bid/cover ratio (excluding retention) was 2.0, below the 2.2
b/c on October 6.
The lowest accepted price was 109.49, while the average weighted
price was 109.57. The government accepted 100% of the bids at the lowest
accepted price.
There were E1.856 billion in bids for the linkers, E1.326 billion
in competitive bids and E530 million in non-competitive bids. The
government accepted 100% of the non-competitive bids.
The government retained E75 million (or 7.5%) for its open market
operations. Total issuance was E1 billion as previously announced.
Counting the E11 billion already issued, total issuance for this
security now equals E12 billion.
Germany will issue E2 to E3 billion in linkers this quarter,
according to the government’s most recent issuance calendar. The
government has now sold E2 billion in linkers in Q4.
The linkers will mature on April 15, 2020. The bond is linked to
Eurozone HICP ex-tobacco.
–Frankfurt Newsroom +49 69 72 01 42: email: fftmail@marketnews.com–
[TOPICS: M$X$$$,M$G$$$,M$$FI$,MFXBO$,MGX$$$]
