FRANKFURT (MNI) – Germany sold E1.95725 billion in
inflation-linked bonds (“linkers”) in a top up of its 1.75%-coupon
10-year linker with 2020 maturity at a real average yield of 1.07%, the
Bundesbank announced Wednesday.
The real average yield was above the 0.93% real average yield at
the bond’s last auction January 12.
The bid/cover ratio (excluding retention) was 1.8, below the 1.9
b/c on January 12.
The lowest accepted price was 105.76, while the average weighted
price was 105,82. The government accepted all of the bids at the lowest
accepted price.
There were E3.55 billion in bids for the linkers, E1.985 billion in
competitive bids and E1.565 billion in non-competitive bids. The
government accepted 65% of the non-competitive bids.
The government retained E42 million for its open market operations.
Total issuance was E2 billion as previously announced. Counting the E13
billion already issued, total issuance for this security now equals E15
billion.
Germany will issue E2 to E3 billion in linkers per quarter this
year, according to the government’s most recent issuance calendar. This
is Germany’s second linker sale this year.
The linkers will mature on April 15, 2020. The bond is linked to
Eurozone HICP ex-tobacco.
–Frankfurt Newsroom +49 69 72 01 42: email: fftmail@marketnews.com–
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