Germany's syndicated sale of bonds maturing in August 2056 achieved a yield of 3.783%, marking the highest yield the nation has paid on long-term debt issuance since 2011.

According to sources familiar with the matter, the new bond was priced at a premium of 0.4 basis points over the comparable 2054-dated bund. The sources requested anonymity as the details have not been made public.

The final order book exceeded 38 billion euros, which included subscription intentions from the joint lead managers. The bond carries a coupon rate of 2.90%.

Barclays, BNP Paribas, Citigroup (B&D), Deutsche Bank, JPMorgan, and NatWest Markets served as the joint lead managers for the transaction.