FRANKFURT (MNI) – The German federal government sold E5.445 billion
in a top-up of its 2.25% coupon Series 157 five-year Bundesobligationen
(Bobls) at an average yield of 1.47%, down from the 2.19% at the
security’s launch auction April 14, the Bundesbank announced Wednesday.
The bid-cover ratio (excluding retention) was 1.1, down from 1.5 at
the previous auction.
There were a total of E6.12 billion in bids for the auction,
including E3.925 billion in competitive bids and E2.195 billion in
non-competitive bids. The German government accepted 100% of the
non-competitive bids.
The lowest accepted price at the auction was 103.51 and the average
weighted price was 103.62. The government accepted 100% of bids at the
minimum price.
The government retained E1.555 million of the issue for its open
market operations, bringing total tranche volume to E7.0 billion, as
previously announced. Including the E7.0 billion already sold, total
issue volume is now E14.0 billion. Today’s sale will settle on Friday,
May 28.
Germany will top up this Bobl again in Q3, according to the
government’s most recent issuance calendar.
— Frankfurt Newsroom +49 69 72 01 42: email: fftmail@marketnews.com–
[TOPICS: M$$FI$,M$G$$$,MFXBO$,MGX$$$]