FRANKFURT (MNI) – The German federal government topped up its
2.25%-coupon, September 2021 Bund by E4.1875 billion at a minimum price
of 103.99, the Bundesbank announced Wednesday.
The average yield on the top-up of the 10-year Bund was 1.8%, down
from 2.15% at the bond’s initial offering in August.
The weighted average price came to 104.05, and the government
accepted 10% of bids at the minimum price.
There were a total of E6.34 billion in bids for today’s sale,
resulting in a bid/cover ratio (excluding Bundesbank retention) of 1.5,
compared to 1.4 in August.
Total bids included E3.835 billion in competitive bids and E2.505
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 E812.5 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$$$]
