0.10% Apr-33 ILB

Germany will come to the market today to sell E750mln nominal of their 0.10% Apr-33 index-linked bond (long 10-year).

• On offer will be:
• 0.10% Apr-33 ILB. ISIN: DE0001030583.
• Auction history: The 0.10% Apr-33 ILB was launched in February 2021 for E1.5bln, allotting E1.11bln at an average yield of -1.510%. The bond has since been reopened five times, with substantially smaller auction sizes ranging between E400-700mln (with between E274-405mln allotted). The most recent auctions were on November 2 and October 5. The November auction allotted E274mln at a yield of -1.860%, resulting in a bid-to-offer of 1.24x. This auction was technically uncovered, with a bid-to-cover of 0.85x. The October auction saw E405mln allotted at a yield of -1.910% and a bid-to-offer of 1.35x (bid-to-cover 1.09x).
• Timing: Results are due shortly after the auction closes at 10:30GMT / 11:30CET.