FRANKFURT (MNI) – The German federal government topped up its
2.25%-coupon, September 2021 Bund by E4.075 billion at a minimum price
of 101.3, the Bundesbank announced Wednesday.
The average yield on the top-up of the 10-year Bund was 2.09%, up
from 1.8% at the bond’s previous top-up in September.
The weighted average price came to 101.4, and the government
accepted 100% of bids at the minimum price.
There were a total of E4.55 billion in bids for today’s sale,
resulting in a bid/cover ratio (excluding Bundesbank retention) of 1.1,
compared to 1.5 last month.
Total bids included E2.32 billion in competitive bids and E2.23
billion in non-competitive bids. The German government accepted 100% of
the non-competitive bids. The bonds mature on September 4, 2021 and are
strippable.
The government retained E925 million of the issue for its open
market operations, bringing the total volume of the latest tranche to E5
billion, as expected. Including the E11 billion of the bond outstanding,
total issue volume is now E16 billion.
The bond settles on Friday.
— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com —
[TOPICS: M$G$$$,M$$FI$,MFXBO$,MGX$$$]
