Germany Sells EUR2.429 Billion February 2027 Bund

The German Finance Agency sold 2.429 billion euros ($2.7 billion) in its 10-year benchmark bund at an auction on Wednesday.

The average yield on the February 2027-dated bund came in at 0.26%, down from 0.39% at the previous tap in May. The auction had no "tail," meaning the average and minimum accepted prices matched.

The Bund on offer was an existing issue that was reopened.

The following are details of the auction, with amounts in euros. Figures in brackets are data from the previous auction held May 24.

Issue 0.25% Feb. 25, 2027 Bund

Amount on offer 3 bln

Bids received 3.544 bln

Bids accepted 2.429 bln

Bid-to-cover ratio 1.5 (1.5)

Average yield 0.26% (0.39%)

Average price 99.92 (98.66)

Minimum price 99.92 (98.65)

Settlement date June 16, 2017

The Bundesbank said 50% of bids at the lowest price was accepted and it satisfied 80% of the non-competitive bids at the weighted average price.

The amount retained for market-tending purposes was about EUR571 million, bringing the total issue size to EUR3 billion, as previously announced.

The German Finance Agency manages the country's federal debt, while the Deutsche Bundesbank is responsible for conducting the debt auctions.

-Write to Emese Bartha at

(END) Dow Jones Newswires

June 14, 2017 05:57 ET (09:57 GMT)