FRANKFURT (MNI) – The German federal government topped up its
3.25%-coupon, July 2021 Bund by E4.16625 billion at a minimum price of
101.81 the Bundesbank announced Wednesday.
The average yield on the top-up of the 10-year Bund was 3.04%,
down from 3.28% at the bond’s initial launch in April.
The weighted average price also came to 101.81, and the government
accepted 100% of bids at the minimum price.
There were a total of E7.075 billion in bids for today’s sale,
resulting in a bid/cover ratio (excluding Bundesbank retention) of 1.7
up from 1.4 on April 27.
Total bids included E3.18 billion in competitive bids and E3.895
billion in non-competitive bids. The German government accepted 75% of
the non-competitive bids. The bonds mature on July 4, 2021 and are
strippable.
The government retained E833.75 million of the issue for its open
market operations, bringing the total volume of the latest tranche to E5
billion, as expected. Including the E6 billion of the bond outstanding,
total issue volume is now E11 billion.
The bond settles on Friday.
— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com —
[TOPICS: M$G$$$,M$$FI$,MFXBO$,MGX$$$]
