Free Trial

Jul-32 DSL DDA

DUTCH AUCTION PREVIEW
MNI (London)
  • The Netherlands will come to the market this morning to launch the new 10-year Jul-32 DSL via DDA. The auction size will be between E4.0-6.0bln and MNI expects issuance at the top of the range.
  • On offer will be the Jul-32 DSL. ISIN: NL0015000RP1.
  • Preliminary initial spread guidance: 0% Feb-32 Bund + 24-28bps
  • Comparable auctions: Today’s launch replaces the 10-year 0% Jul-31 DSL (ISIN: NL00150006U0) as the on-the-run issue. 0% Jul-31 DSL was launched via syndication on February 9, 2021, where E5.99bln was sold at an average yield of -0.316%. The DSL was reopened three times last year. The most recent two reopenings were on June 8 and October 26 last year, issuing E2.2bln and E2.49bln respectively. The June auction saw an average yield of -0.053%, whilst the October auction resulted in a higher yield of 0.014%.
  • Timing: Books closed for the previous DDA at 11:30GMT / 12:30CET with pricing later in the day.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.