Today, 23 September 2025, the DSTA launched a new 30-year DSL via a Dutch Direct Auction (DDA). The bond has an annual coupon of 3.50% and will mature on 15 January 2056.
In total €32.74 billion in bids has been received in the order book. An amount of €4,999,042,000 was allocated at an uniform cut-off spread of +20.0 basis points over the reference bond, the DBR 2.90% 15 August 2056. Of this amount 85.77% is allocated to ‘real money’ accounts and 14.23% to ‘other’ accounts.
The issuance price was set at €99.22, which corresponds to an issuance yield of 3.543%.
Please refer to the one-pager-30-year DDA for more details about the allocation.