The main instrument of borrowing is the issue of Federal securities via an auction or tender process. Members of the Bund Issues Auction group initially take the offered Federal securities into their own portfolios and then gradually resell them to their customers.
Usually, the Federal government issues its securities only in the auction process. In addition, the syndication process is also used for suitable individual cases.
The Federal government also uses the syndication process for the issuance of Federal securities, but comparatively less frequently. When issued via a syndicate, the respective Federal securities are brokered directly to investors on behalf of the Federal government by a selected group of banks for a fee.
This has the advantage of a lower sales risk compared to the auction process. Therefore, the Federal government uses this process especially when a new financing instrument or maturity segment is introduced for the Federal government. In addition, a larger volume can usually be sold through a syndicate than through an auction process.
Issuance Results in Syndication Process
|31.08.2022||DE0001030740||GREEN_BOBL 2022 (2027)||€ 5.0 bn||1.30 %||2027-10-27||Download|
|2022-06-01||DE0001030724||GREEN_30 2021 (2050)||€ 4.0 bn||0.00 %||2050-08-15||Download|
|2022-03-01||DE0001102572||BUND_30 2021 (2052)||€ 4.0 bn||0.00 %||2052-08-15||Download|
|2021-09-01||DE0001102572||BUND_30 2021 (2052)||€ 5.5 bn||0.00 %||2052-08-15||Download|
|2021-05-11||DE0001030724||GREEN_30 2021 (2050)||€ 6.0 bn||0.00 %||2050-08-15||Download|
|2020-09-02||DE0001030708||GREEN_10 2020 (2030)||€ 6.5 bn||0.00 %||2030-08-15||Download|
|2020-06-10||DE0001102481||BUND_30 2019 (2050)||€ 6.0 bn||0.00 %||2050-08-15||Download|
|2020-05-06||DE0001102515||BUND_15 2020 (2035)||€ 7.5 bn||0.00 %||2035-05-15||Download|
|2015-06-09||DE0001030575||ILB_30 2015 (2046)||€ 2.5 bn||0.10 %||2046-04-15||Download|
|2009-09-14||DE0001030120||USD||$ 4.0 bn||1.50 %||2021-09-21|
|2006-09-06||DE0001030500||ILB_10 2006 (2016)||€ 3.5 bn||1.50 %||2016-04-15|
|2006-03-08||DE0001030500||ILB_10 2006 (2016)||€ 5.5 bn||1.50 %||2016-04-15|
|2005-05-24||DE0001030104||USD||$ 5.0 bn||3.88 %||2010-06-01|
BUND: Federal bond with maturity of 10, 15 or 30 years
ILB: Inflation-linked Federal securities with maturity of 10 or 30 years
GREEN: Green bond with maturity of 10 or 30 years
USD: Federal USD bond