Coupon for the new DSL January 2029: 0.00%
Today the coupon for the new 8-year DSL has been set at 0.00%. The Dutch State Treasury Agency (DSTA) launches this new bond on Tuesday 28 September 2021 via the MTS platform (which is also used for tap auctions). The bond matures on 15 January 2029.
The characteristics of this bond are:
|
Maturity date |
15 January 2029 |
|
Coupon |
0.00% (short first coupon) |
|
Target volume |
€ 3 - 5 billion |
|
Auction date |
Tuesday 28 September 2021, starting at 10:00 CET |
|
Settlement date |
Thursday 30 September 2021 |
The DSTA has committed itself to realising an outstanding volume of approximately €12 billion within 12 months, through several re-openings. The liquidity of the bond is guaranteed by the repo facility available to the Primary Dealers (PDs).
On the auction date at 10 a.m. (CET), the DSTA will announce the price at which Primary Dealers can buy the bond. 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 Primary Dealers and the borrowing conditions are available on the website (www.dsta.nl). Primary Dealers have the right (under the usual conditions) to use the “non-comp” facility after the auction has been closed.