FRANKFURT (MNI) – The German federal government sold E1.9345
billion in a top up of March-2011 12-month bubills at a weighted average
yield of 0.3272%, the Bundesbank announced Monday.
The weighted average yield was lower than the 0.5747% yield at the
initial auction March 29.
The average price of today’s auction was 99.74616 and the highest
accepted yield was 0.3300%. 100% of bids at the highest accepted yield
were accepted.
There were E5.185 billion in bids for the bubills, including E1.570
billion in non-competitive bids. 85% of the non-competitive bids were
accepted.
The bid/cover ratio (excluding retention) was 2.7, higher than the
1.5 b/c at the March 29 auction. The government retained E65.5 million
of the issue (or about 3.28%), bringing total issue volume to E2
billion, as planned. Counting the E4 billion already issued, total
volume on this security is E6 billion.
The bubills will settle on Wednesday, June 23 and mature on March
30, 2011.
–Frankfurt newsroom: +49-69-720142; frankfurt@marketnews.com
[TOPICS: M$G$$$,M$$FI$,MGX$$$]