By Emese Bartha
Netherlands sold 6 billion euros ($6.29 billion) in a new July 2035-dated government bond, or DSL, the Dutch State Treasury Agency said.
The allotted amount is at the upper end of the DSTA's 4 billion euros to 6 billion euros target range for the new issue. The new bond, which was placed via a Dutch Direct Auction, got total bids of 29.455 billion euros, implying a bid-to-cover ratio of 4.91, the DSTA said.
In a Dutch Direct Auction, the DSTA acts as sole bookrunner.
The cut-off spread for the new DSL was set 25.5 basis points above the 2.50% February 2035 German Bund, which was used as a pricing reference. The 2035 DSL, which has a 2.50% coupon, was priced at 97.96, at a yield of 2.730%, the DSTA said.
Out of the total issue volume, 83.73% was allocated to real money investors--those who buy and hold bonds for long term, often until maturity--while 16.27% was allocated to others, the DSTA said.
Write to Emese Bartha at emese.bartha@wsj.com
(END) Dow Jones Newswires
March 04, 2025 06:30 ET (11:30 GMT)
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