1,90 % Federal Treasury note 2025
ISIN
DE000BU22106
WKN
BU2210
Type
Federal Treasury note
Price (02.10.2025)
99.778
+0.02%
Yield (02.10.2025)
2.01%
-0.01 PP
Issuance data
| Issuer | Federal Republic of Germany |
|---|---|
| Maturity segment | 2 years |
| Issuance volume | 19,000,000,000 € |
| Issuance currency | € |
| Issuance date | 15.07.2025 |
| Maturity | 16.09.2027 |
| Smallest tradable unit | 0.01 € |
| Stock-market listing | yes |
| Eligibility for security | gilt-edged |
| Terms of issue | Download (PDF) |
Coupon data
| Coupon in % | 1.90 |
|---|---|
| Payable | annually |
| Interest calculated from | 17. July 2025 |
| First interest payment | 16. September 2026 |
| Interest calculation | actual/actual (ICMA) |
| Date | Type | Lowest accepted price | Average price | Average yield | Bid/Cover ratio |
|---|---|---|---|---|---|
| 15.07.2025 | New Issue | 100.06 | 100.064 | 1.87% | 2.3 |
| 05.08.2025 | Reopening | 99.995 | 99.995 | 1.90% | 2.5 |
| 02.09.2025 | Reopening | 99.865 | 99.867 | 1.96% | 2.0 |
| 23.09.2025 | Reopening | 99.775 | 99.775 | 2.01% | 1.8 |
| Date | Type | Volume | Bids | Competitive bids | Non-competitive bids | Allotted volume | Retention quote |
|---|---|---|---|---|---|---|---|
| 15.07.2025 | New Issue | 5,000 € mn | 9,067 € mn | 3,140 € mn | 5,927 € mn | 3,899.03 € mn | 1,100.97 € mn |
| 05.08.2025 | Reopening | 5,000 € mn | 9,842 € mn | 3,100 € mn | 6,742 € mn | 3,916.48 € mn | 1,083.52 € mn |
| 02.09.2025 | Reopening | 4,500 € mn | 7,213 € mn | 2,661 € mn | 4,552 € mn | 3,552.04 € mn | 947.96 € mn |
| 23.09.2025 | Reopening | 4,500 € mn | 6,537 € mn | 2,510 € mn | 4,027 € mn | 3,600.79 € mn | 899.21 € mn |