FRANKFURT (MNI) – The German federal government sold E1.93 billion
in a top up of its December-2011 maturity bubill at a weighted average
yield of 1.009%, the Bundesbank announced Monday.
The weighted average yield was higher than the 0.7492% yield at the
bill’s initial auction December 13.
The average price of today’s auction was 99.25998 and the highest
accepted yield was 1.02%. The government accepted 100% of bids at the
highest accepted yield.
There were E3.995 billion in bids for the bubills, including E605
million in non-competitive bids. The government accepted 100% of the
non-competitive bids.
The bid/cover ratio (excluding retention) was 2.1, below the 3.3
b/c at the December 13 auction. The government retained E70 million of
the issue, bringing total issue volume to E2 billion, as planned.
Counting the E2 billion already issued, today’s auction brings
total issuance volume to E4 billion.
The bubills will settle on Wednesday, March 23 and mature on
December 14, 2011.
— Frankfurt bureau: +49-69-720 142; email: frankfurt@marketnews.com —
[TOPICS: M$G$$$,M$$FI$,MGX$$$]
