By Laura Contemori – ROME (Econostream) – Germany’s Finance Agency (Finanzagentur) on Wednesday allotted €2.280 billion through the reopening of three Federal bonds (Bunds).

Settlement is scheduled for July 17.

The agency allotted €758.7 million of the 0% Federal bond due August 15, 2052, from total bids of €1.808 billion, for a cover ratio of 2.4. The weighted average price was 39.28%, corresponding to an average yield of 3.65%. The reopening increased the outstanding volume of the bond to €38 billion from €37 billion. The federal government retained €241.3 million for its own account.

The agency also allotted €753 million of the 2.50% Federal bond due August 15, 2054, from bids totaling €1.115 billion, for a cover ratio of 1.5. The weighted average accepted price was 80.16%, corresponding to an average yield of 3.64%. The reopening increased the outstanding volume of the bond to €30 billion from €29 billion. The federal government retained €247 million.

Finally, the agency allotted €767.9 million of the 2.90% Federal bond due August 15, 2056, from total bids of €2.216 billion, for a cover ratio of 2.9. The weighted average accepted price was 86.60%, corresponding to an average yield of 3.64%. The reopening increased the outstanding volume of the bond to €29.5 billion from €28.5 billion. The federal government retained €232.1 million.