This press release contains the details of the auction date for a new 8-year DSL and the reopening of the DSL 0.25% July 2025 on 31 August 2021.
Auction of new DSL January 2029 Dutch State Loan on 28 September 2021
In its Quarterly Outlook for the third quarter of 2021, the Dutch State Treasury Agency (DSTA) announced that it would issue a new 8-year DSL in September 2021. This DSL January 2029 will be placed via the MTS platform (which is also used for tap auctions).
Today the DSTA announces the characteristics for the issuance of this bond. The auction date, maturity date, coupon and target volume are as follows:
|
Auction date |
Tuesday 28 September 2021, start 10:00 CET |
|
Maturity date |
15 January 2029 (short first coupon) |
|
Target volume |
€ 3 - € 5 billion |
|
Settlement date |
Two days after the issuance price is set |
|
Coupon |
To be announced on Wednesday 22 September 2021 |
The DSTA has committed itself to realising an outstanding volume of approximately €12 billion within 12 months, through several re-openings. The liquidity of the bond is guaranteed by the repo facility available to the Primary Dealers (PDs).
On the issue date at 10 a.m. (CET), the DSTA will announce the price at which Primary Dealers can buy the bond. The issuance will take the form of a tap auction, during which the DSTA may revise the price at any time. The price will be announced on the screens of MTS Netherlands and Bloomberg DSTA. Professional and private investors may participate in the auction through the Primary Dealers. The Primary Dealers and the borrowing conditions are available on the website. Primary Dealers have the right (under the usual conditions) to use the “non-comp” facility after the auction has been closed.
Reopening of DSL 0.25% July 2025 on 31 August 2021
On Tuesday 31 August 2021, the DSTA will reopen the ‘DSL 0.25% 15 July 2025’.
The characteristics of this bond are:
|
Maturity date |
15 July 2025 |
|
Coupon |
0.25% |
|
Issue date |
31 August 2021 |
|
Settlement date |
2 September 2021 |
|
Target amount |
€ 1.5 to € 2.5 billion |
|
Current outstanding amount |
€ 17,925,159,000 |
|
First issue of this bond |
24 March 2015 |
On the issue date at 10 a.m. (CET), the DSTA will announce the price at which Primary Dealers can buy the bond. The issuance will take the form of a tap auction, during which the DSTA may revise the price at any time. The price will be announced on the screens of MTS Netherlands and Bloomberg DSTA. Professional and private investors may participate in the auction through the Primary Dealers. The Primary Dealers and the borrowing conditions are available on the website. Primary Dealers have the right (under the usual conditions) to use the “non-comp” facility after the auction has been closed. Liquidity of the bond will be guaranteed through a repo facility available to the Primary Dealers.
Updated issuance calendar for the remainder of the third quarter of 2021
As of the date of this press release the issuance calendar for the DSL auctions in August and September 2021 is as follows:
|
Auction date* |
Details |
Target volume (€ bn) |
|
31 August |
DSL 15 July 2025 |
1.5 – 2.5 |
|
14 September |
Reopening of existing DSL |
To be determined |
|
28 September |
DSL 15 January 2029 |
3.0 – 5.0 |
* Further details on the auction, including maturity and target volume, will be announced at the latest on the Wednesday prior to the auction date (t-6)