The Dutch State announces the auction date for the reopening of the 30-year bond via a DDA and presents the timeline for publication of the Outlook for the second quarter of 2024
By way of this press release, the Dutch State Treasury Agency (DSTA) provides an update on the reopening of the 30-year bond, the DSL 15 January 2054 and announces that the quarterly outlook for the second quarter will be published on 22 March 2024.
Reopening of the 30-year bond on 16 April 2024
In its Outlook 2024, the DSTA announced that it would reopen the 30-year bond DSL 15 January 2054 by means of a DDA. Today the DSTA announces the details for the issuance of this 30-year bond. The auction date, maturity date and target volume are as follows:
|
Auction date |
Tuesday 16 April 2024, start 10:00 CET |
|
Maturity date |
15 January 2054 |
|
Reference bond |
To be announced at a later date |
|
Target volume |
€ 4 - € 5 billion |
|
Pricing |
Aim to price on the auction date, but no later than 12:00 CET on 17 April 2024 |
|
Settlement date |
Two days after the issuance price is set |
|
Coupon |
2.00% |
|
Initial spread guidance |
To be announced on Monday 15 April 2024 |
The DSTA expects this auction to take 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.
On the issue date of the DDA, 16 April 2024, 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 date itself. More information on the DDA auction methodology and the current DDA rules can be found on www.english.dsta.nl.
Publication of Quarterly Outlook scheduled for 22 March 2024
As per usual, the DSTA will publish its Quarterly Outlook for the second quarter of 2024. The publication date is scheduled for Friday 22 March 2024. The Quarterly Outlook will contain the regular updates on the Dutch economy, budget, climate and the funding need. Furthermore, the issuance calendars for the second quarter of 2024 included.