German 5-year Debt Auction Sees Strong Demand

" /> 01/11/2012 05:56

An auction of a new line of 5-year German federal notes on Wednesday saw strong demand, reports said.

The sale with a target of EUR 4 billion attracted bids totaling EUR 8.97 billion euros. These new notes carrying a coupon rate of 0.75 percent will mature on February 24, 2017.

The bid-to-cover ratio was 2.8 compared to 2.1 in an auction of 2016 notes on December 7.

The country reportedly sold EUR 3.15 billion of 5-year federal notes known as Bobls at an average yield of 0.90 percent, which was less than the 1.11 percent in the previous auction.

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