FRANKFURT (MNI) – The German federal government sold E5.816 billion
in new 0.50%-coupon June 2012 two-year notes (Schatzanweisung) at a
minimum price of 99.740 the Bundesbank announced Wednesday.
The weighted average price was 99.751. The average yield on the
sale was 0.62%, while the bid-cover ratio (excluding retention) stood at
1.4, lower than the 1.8 at the last 2-year auction April 7.
60% of bids at the minimum price were accepted. The Bundesbank
retained E1.184 billion (or 16.9%) of the issue for its open market
operations, bringing the total tranche to E7 billion, as expected.
There were a total of E8.240 billion in bids for today’s sale. The
bids included E5.510 billion in competitive bids and E2.730 billion in
non-competitive bids. The German government accepted 100% of the
non-competitive bids.
The new tranche will settle on Friday, May 14. The issue matures on
June 15, 2012.
This security is scheduled to be topped up by around E6 billion on
June 9 and again by E6 billion on June 30.
— Frankfurt Newsroom +49 69 72 01 42: email: frankfurt@marketnews.com–
[TOPICS: M$G$$$,M$$FI$,MFXBO$,MGX$$$]
