DSTA announces auction date, maturity date, reference bond and target volume for new 30-year benchmark bond

In its Quarterly Outlook Q3 2020, the DSTA announced that it would issue a new 30-year benchmark bond. The DSTA indicated that the window for launching this bond would be September or October 2020.

Today the DSTA announces the characteristics for the issuance of this bond. The auction date, maturity date, reference bond and target volume are as follows:

Auction date

Tuesday 22 September 2020, start 10:00 CET

Maturity date

15 January 2052 (short first coupon)

Reference bond

DBR 0.00% 15 August 2050

Target volume

€ 4 - € 6 billion


Aim to price on the auction day, but no later than 12:00 CET on 23 September 2020

Settlement date

Two days after the issuance price is set


To be announced on Friday 18 September 2020

Initial spread guidance

To be announced on Monday 21 September 2020

The DSTA expects the auction to place via a Dutch Direct Auction (DDA). As always, the DSTA reserves the right to change the auction method or date of the auction should circumstances warrant this. Specific to the DDA is the direct placement of debt with end-investors. During the DDA, investors can place their bids via one or more Primary Dealers of their choice.

The book opens at 10:00 CET and closes at 17:00 CET at the latest. The allocation will be announced as soon as possible after the closing of the book. The pricing will occur at the earliest 30 minutes after allocation and no later than 12:00 CET on the following day. The DSTA aims to price on the auction day itself. More information on the DDA auction methodology can be found on english.dsta.nl.