Dutch State reopens DSL 2047 and updates borrowing requirement for 2017
On Tuesday 10 January 2017, the Dutch State Treasury Agency will reopen the DSL 2.75% 15 January 2047.
The characteristics if this bond are:
|
Maturity date |
15 January 2047 |
|
Coupon |
2.75% |
|
Issue date |
10 January 2017 |
|
Settlement date |
12 January 2017 |
|
Target amount |
€ 0.75 to € 1.25 billion |
|
Current outstanding amount |
€ 11,163,187,000 |
|
First issue of this bond |
18 February 2014 |
On the issue date at 10 a.m. (CET), the DSTA will announce the price at which Primary Dealers can buy the issue. 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 list of Primary Dealers and the borrowing requirements 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 borrowing requirement for 2017
On 15 December 2016 the DSTA presented its Outlook 2017, including the funding plan for 2017. At that time the preliminary borrowing requirement for 2017 was estimated at € 59.4 billion. Based on the figures at year-end 2016, the borrowing requirement for 2017 is now estimated at € 58.7 billion. This slightly lower than expected funding need is due to improvements in the cash position at the end of 2016, which stands at € 18.2 billion instead of € 18.9 billion.
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