By Laura Contemori – ROME (Econostream) – Germany's Finance Agency (Finanzagentur) on Monday allotted €3.929 billion of treasury discount paper in a multi-ISIN tender reopening two Treasury discount paper (Bubill) lines maturing in September 2026 and March 2027.
The agency allotted €1.652 billion of the September 2026 Bubill, which has a residual maturity of about three months, and €2.277 billion of the March 2027 Bubill with a remaining maturity of around nine months.
Total bids amounted to €2.142 billion for the September 2026 line and €2.377 billion for the March 2027 line, resulting in cover ratios of 1.3 and 1, respectively.
The September 2026 Bubill was allotted at a weighted average yield of 2.199%, with the highest accepted yield at 2.205% and an average price of 99.36271%.
The March 2027 Bubill was allotted at a weighted average yield of 2.426%, with the highest accepted yield at 2.44% and an average price of 98.10264%.
Finanzagentur retained €348 million of the September 2026 line and €723 million of the March 2027 line for the Federal Government's own account.
Following the reopenings, the outstanding volume of the September 2026 Bubill increased to €14.0 billion from €12.0 billion, while the March 2027 Bubill rose to €8.0 billion from €5.0 billion.
The value date for both lines is June 3, 2026.