FRANKFURT (MNI) – The German federal government sold E1.4 billion
in a top up of its March-2012 maturity bubill at a weighted average
yield of 1.2985%, the Bundesbank announced Monday.
The weighted average yield was higher than the 1.2649% yield at the
bill’s initial auction March 28.
The average price of today’s auction was 99.00015 and the highest
accepted yield was 1.3%. The government accepted 100% of bids at the
highest accepted yield.
There were E5.352 billion in bids for the bubills, including E625
million in non-competitive bids. The government accepted 100% of the
non-competitive bids.
The bid/cover ratio (excluding retention) was 3.8, babove the 2.2
b/c at initial auction. The government retained E600 million of the
issue, bringing total issue volume to E2 billion, as planned.
Counting the E3 billion already issued, today’s auction brings
total issuance volume to E5 billion.
The bubills will settle on Wednesday, June 22 and mature on March
28, 2012.
— Frankfurt bureau: +49-69-720 142; email: frankfurt@marketnews.com —
[TOPICS: M$G$$$,M$$FI$,MGX$$$]