New 7-years bond auction date, maturity date, coupon and target volume
Dutch State introduces new 7-years bond: auction date, maturity date, coupon and target volume
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 26 May 2020, start 10:00 CET |
|
Maturity date |
15 January 2027 (short first coupon) |
|
Target volume |
€ 3 - € 5 billion |
|
Settlement date |
Thursday 28 May 2020 |
|
Coupon |
0.00% |
The DSTA’s objective is to raise the total outstanding amount of this new 7-year bond to around € 15 billion within 12 months via several reopenings. Liquidity in the bond will be guaranteed through a repo facility available to the Primary Dealers.
On the issue date at 10 a.m. (CEST), 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 ( english.dsta.nl). Primary Dealers have the right (under the usual conditions) to use the “non-comp” facility after the auction has been closed.
Here you can find the updated issuance calendar for the second quarter 2020.