2.50 % Federal note - series 193
ISIN
DE000BU25067
WKN
BU2506
Type
Federal note
Price (19.03.2026)
99.24
-0.51%
Yield (19.03.2026)
2.66%
+0.11 PP
Issuance data
| Issuer | Federal Republic of Germany |
|---|---|
| Maturity segment | 5 years |
| Issuance volume | 16,000,000,000 € |
| Issuance currency | € |
| Issuance date | 13.01.2026 |
| Maturity | 16.04.2031 |
| Smallest tradable unit | 0.01 € |
| Stock-market listing | yes |
| Eligibility for security | gilt-edged |
| Terms of issue | Download (PDF) |
Coupon data
| Coupon in % | 2.50 |
|---|---|
| Payable | annually |
| Interest calculated from | 15. January 2026 |
| First interest payment | 16. April 2027 |
| Interest calculation | actual/actual (ICMA) |
| Date | Type | Volume | Maturity segment |
|---|---|---|---|
| 24.03.2026 | Reopening | 5,000 € mn | 5 years |
| 14.04.2026 | Reopening | 5,000 € mn | 5 years |
| 19.05.2026 | Reopening | 5,000 € mn | 5 years |
| 16.06.2026 | Reopening | 5,000 € mn | 5 years |
| Date | Type | Lowest accepted price | Average price | Average yield | Bid/Cover ratio |
|---|---|---|---|---|---|
| 13.01.2026 | New Issue | 100.16 | 100.16 | 2.47% | 1.4 |
| 10.02.2026 | Reopening | 100.48 | 100.48 | 2.40% | 1.7 |
| 03.03.2026 | Reopening | 100.30 | 100.31 | 2.43% | 1.2 |
| Date | Type | Volume | Bids | Competitive bids | Non-competitive bids | Allotted volume | Retention quote |
|---|---|---|---|---|---|---|---|
| 13.01.2026 | New Issue | 6,000 € mn | 6,483 € mn | 2,745 € mn | 3,738 € mn | 4,596.6 € mn | 1,403.4 € mn |
| 10.02.2026 | Reopening | 5,000 € mn | 6,297 € mn | 2,752 € mn | 3,545 € mn | 3,811.05 € mn | 1,188.95 € mn |
| 03.03.2026 | Reopening | 5,000 € mn | 4,569 € mn | 1,635 € mn | 2,934 € mn | 3,825.32 € mn | 1,174.68 € mn |