On Tuesday 13 March 2018 at 10:00 CET the DSTA will issue a new 10-year benchmark bond via a Dutch Direct Auction (DDA). 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 DSTA has appointed ABN AMRO Bank, Jefferies and Nordea as its advisors for this DDA.
The new 10-year benchmark bond will mature on 15 July 2028 and has a short first coupon. Its first issuance will be priced based on a spread via-a-vis the reference bond, the DBR 0.50% 15 February 2028. The target volume is € 4 to 6 billion. Settlement will be two days after pricing.
Further details such as the coupon of the bond and the initial spread guidance will be announced in due time. In case of unforeseen conditions, the DSTA reserves the right to change the date of auction.