€ 5.98 billion issued in new 20-year green DSL 2040

Today, 21 May 2019, the DSTA launched a new 20-year green DSL via a Dutch Direct Auction (DDA). The bond has an annual coupon of 0.50% and will mature on 15 January 2040.

The order book was closed with a total bid volume of € 21.2 billion.  An amount of € 5,985,004,000 was allocated at a uniform cut-off spread of +18.0 basis points over the reference bond, the DBR 4.75% 4 July 2040.

At the cut-off spread 82.5% of the bids from ‘green real money’ accounts was allocated, 72.5% of the bids from ‘real money’ accounts and 18.5% from ‘other’ accounts. Of the total amount 28.5% is allocated towards ‘green real money’ accounts, 47.0% to ‘real money’ accounts and 24.5% to ‘other’ accounts.

The issuance price was set at € 98.89, which corresponds to an issuance yield of 0.557%.

Please refer to the one-pager on the 20-year green DDA for more details about the allocation.