FRANKFURT (MNI) – The German federal government sold E5.642 billion
in new 1.50%-coupon March 2013 two-year notes (Schatzanweisung) at a
minimum price of 99.940 the Bundesbank announced Wednesday.
The weighted average price was 99.945. The average yield on the
sale was 1.53%, while the bid-cover ratio (excluding retention) stood at
1.8, lower than the 2.1 b/c at the last 2-year auction January 19.
One hundred percent of bids at the minimum price were accepted. The
Bundesbank retained E1.358 billion (or 19.4%) of the issue for its open
market operations, bringing the total tranche to E7 billion, as
expected.
There were a total of E10.342 billion in bids for today’s sale. The
bids included E6.050 billion in competitive bids and E4.292 billion in
non-competitive bids. The German government accepted 100% of the
non-competitive bids.
The new tranche will settle on Friday, February 25. The issue
matures on March 15, 2013.
This security is scheduled to be topped up by around E6 billion on
March 16.
— Frankfurt Newsroom +49 69 72 01 42: email: frankfurt@marketnews.com–
[TOPICS: M$G$$$,M$$FI$,MFXBO$,MGX$$$]
