FRANKFURT (MNI) – The German federal government topped up its
2.50%-coupon, January 2021 Bund by E3.374 billion at a minimum price of
93.50 the Bundesbank announced Wednesday.
The average yield on the top-up of the 10-year Bund was 3.28%, up
from 2.87% at the bond’s last tap January 5, which was Germany’s first
bond auction of the year.
The weighted average price came to 93.52, and the government
accepted 100% of bids at the minimum price.
There were a total of E6.492 billion in bids for today’s sale,
resulting in a bid/cover ratio (excluding Bundesbank retention) of 1.9
up from 1.6 on January 5.
Total bids included E3.191 billion in competitive bids and E3.301
billion in non-competitive bids. The German government accepted 50% of
the non-competitive bids. The bonds mature on January 4, 2021 and are
strippable.
The government retained E626.50 million (or 15.7%) of the issue for
its open market operations, bringing the total volume of the latest
tranche to E4 billion, as expected. Including the E11 billion of the
bond outstanding, total issue volume is now E15 billion.
The bond settles on Friday.
— Frankfurt bureau. Tel: +49 69 720142; Email: frankfurt@marketnews.com
[TOPICS: M$G$$$,M$$FI$,MFXBO$,MGX$$$]
