Today, the DSTA announces that it will not exercise the option to tap an existing DSL on 27 January 2026.
DSL auctions are usually scheduled on the second and fourth Tuesday of each month. In the first quarter of 2026, four auction dates will be used. One of these dates has already been utilized for the launch of the new 5-year bond: DSL 15 January 2031 (via MTS) on January 13th. The remaining dates in the first quarter will be used to launch the new 10-year benchmark DSL July 2036 by means of a DDA, and to reopen two existing DSLs, to be determined at a later stage. Target volume and other details will be announced no later than the Wednesday prior to an auction.
The following bonds are scheduled to be auctioned in Q1 of 2026:
| Auction date | Details | Target volume (€ billion) |
|---|---|---|
| New 10-year bond: DSL 15 July 2036 (via DDA) | 6 - 7 | |
| Tap of an existing DSL* | To be determined | |
| Tap of an existing DSL* | To be determined |
* Target volume and other details will be announced at a later stage, but no later than the Wednesday prior to the auction date (t-6).