FRANKFURT (MNI) – The German federal government sold E1.935 billion
in a top up of its October-2011 maturity bubill at a weighted average
yield of 0.6839%, the Bundesbank announced Monday.
The weighted average yield was lower than the 0.8521% yield at the
bill’s initial auction October 25.
The average price of today’s auction was 99.47089 and the highest
accepted yield was 0.6850%. The government accepted 100% of bids at the
highest accepted yield.
There were E5.535 billion in bids for the bubills, including E1.235
billion in non-competitive bids. The government accepted 100% of the
non-competitive bids.
The bid/cover ratio (excluding retention) was 2.9, above the 1.8
b/c at the October 25 auction. The government retained E65 million of
the issue (or 3.3%), bringing total issue volume to E2 billion, as
planned.
Counting the E3 billion already issued, today’s auction brings
total issuance volume to E5 billion.
The bubills will settle on Wednesday, January 19 and mature on
October 26, 2011.
–Frankfurt newsroom: +49-69-720142; frankfurt@marketnews.com
[TOPICS: M$G$$$,M$$FI$,MGX$$$]
