FRANKFURT (MNI) – The German federal government sold E4.92610
billion in new 1.00%-coupon December 2012 two-year notes
(Schatzanweisung) at a minimum price of 100.03 the Bundesbank announced
Wednesday.
The weighted average price was 100.04. The average yield on the
sale was 0.98%, while the bid-cover ratio (excluding retention) stood at
1.4, lower than the 2.2 b/c at the last 2-year auction October 6.
One hundred percent of bids at the minimum price were accepted. The
Bundesbank retained E1.07390 billion (or 17.9%) of the issue for its
open market operations, bringing the total tranche to E6 billion, as
expected.
There were a total of E6.801 billion in bids for today’s sale. The
bids included E3.735 billion in competitive bids and E3.066 billion in
non-competitive bids. The German government accepted 85% of the
non-competitive bids.
The new tranche will settle on Friday, November 12. The issue
matures on December 14, 2012.
This security is scheduled to be topped up by around E5 billion on
December 8.
— Frankfurt Newsroom +49 69 72 01 42: email: frankfurt@marketnews.com–
[TOPICS: M$G$$$,M$$FI$,MFXBO$,MGX$$$]
