FRANKFURT (MNI) – Germany sold E1.981 billion in inflation-linked
bonds (“linkers”) in a top up of its 1.50%-coupon 10-year linker with
2016 maturity at a real average yield of 0.19%, the Bundesbank announced
Wednesday.
The bid/cover ratio (excluding retention) was 1.9, above the 1.8
b/c at this security’s last auction on June 11, 2008.
The lowest accepted price was 107.19, while the average weighted
price was 107.26. The government accepted 75% of the bids at the lowest
accepted price.
There were E3.751 billion in bids for the linkers, E3.036 billion
in competitive bids and E715 mbillion in non-competitive bids. The
government accepted 100% of the non-competitive bids.
The government retained E19 million (or 0.95%) 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 E3 to E4 billion in linkers this quarter,
according to the government’s most recent issuance calendar. The
government has now issued E3 billion in a total of two linker auctions
this quarter.
The linkers will mature on April 15, 2016. The bond is linked to
Eurozone HICP ex-tobacco.
–Frankfurt Newsroom +49 69 72 01 42: email: fftmail@marketnews.com–
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