Reopening of a 30-year Federal bond 2021 (2052)

Press release of Bundesbank & Finanzagentur
1 March 2022

Today, the Federal Government has again reopened a 30-year Federal bond, this time via syndicate. The Federal bond has a coupon of 0.00 % and will mature on 15 August 2052. The issuance volume of the reopening was € 4 billion and the allotment was made at a re-offer price of 90.733 %. The total volume of the Federal bond is now € 13 billion.
The placement of the Federal bond with national and international investors was carried out by a syndicate of banks including BNP Paribas, Citi, Deutsche Bank, Goldman Sachs Bank Europe SE and J.P. Morgan.

Deviating from Article 1 sentence 1 (Placing) of the issuance terms and conditions of 21 December 2012 (the "Issuance Terms and Conditions"), the Federal bond will not be issued by the "Auction Process", but through the syndicate in the "Syndication Process". The conditions of the Federal bond and such deviation from the Issuance Terms and Conditions (the "Deviation") were determined in the Syndication Process and are published by Deutsche Bundesbank by this press release. The fixed conditions and the Deviation are part of the Issuance Terms and Conditions of the Federal bond.

Characteristics of the 30-year Federal bond

Issuer: Federal Republic of Germany
ISIN: DE0001102572
Previous issuance volume: € 9 billion
Maturity: 15 August 2052
Coupon: 0 %
Start of interest rate period: 15 August 2021
Interest payment dates: 15 August annually
First interest payment date: 15 August 2022

Details of the reopening via syndicate

Issuance volume: € 4 billion (no retention quote)
Pricing: 1 March 2022
Settlement: 8 March 2022
Reoffer price: 90.733 %
Reoffer yield: 0.320 %

The separation of principal and interest payments and their separate trading (“stripping”) is not possible.

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