As already announced on 29 February 2008 the German Federal Government will reopen the
2.25 % inflation-linked Federal notes of 2007 (2013)
ISIN DE0001030518 // SIN 103 051
on 5 March 2008, using an auction procedure. An increase of € 3 billion is envisaged for the issue (auction allotment and amount set aside for secondary market operations). The current issue volume amounts to € 4 billion.
Members of the Bund Issues Auction Group are entitled to bid. Bids must be for a par value of not less than € 1 million or an integral multiple thereof. The price bids must be expressed in terms of full 0.01 percentage points. Non-competitive bids are possible. The bids accepted by the issuer will be allotted at the price bid. Non-competitive bids are filled at the weighted average price of the bids accepted. The right to scale down bids is reserved.
The auction allotments for inflation-linked Federal notes will be included in the existing ranking list of the auction group members for Federal securities issued in auctions. The weighting factor of inflationlinked Federal notes thereby corresponds to the weighting factor of the nominal interest-bearing fiveyear Federal notes ("Bundesobligationen").
The bidding deadline ends - in contrast to usual issuances - at 12.00 a. m. Frankfurt time.
Time schedule of the auction procedure:
Bidding period: Wednesday, 5 March 2008, from 8.00 a. m. until 12.00 a. m. Frankfurt time
Inclusion in stock exchange trading: Wednesday, 5 March 2008
Value date: Friday, 7 March 2008
Settlement: Delivery versus payment-settlement in the night-time processing of Clearstream Banking AG Frankfurt, beginning on the eve of the value date.
Terms of the inflation-linked Federal notes to be reopened:
Maturity: 15 April 2013
Interest payment: 15 April annually
First interest payment: 15 April 2008 for 366 days
Reference index: Harmonized Index of Consumer Prices (HICP) of the Euro area excluding tobacco
Indexation Coefficient: 1.03417 (on the value date 7 March 2008)
In addition, the Auction rules, the Special terms and conditions of the Deutsche Bundesbank for auctions of Federal securities using the Bund Bidding System (BBS) and the terms and conditions of these inflation-linked Federal notes shall apply.
2.25 % inflation-linked Federal notes of 2007 (2013)
ISIN DE0001030518 // SIN 103 051
on 5 March 2008, using an auction procedure. An increase of € 3 billion is envisaged for the issue (auction allotment and amount set aside for secondary market operations). The current issue volume amounts to € 4 billion.
Members of the Bund Issues Auction Group are entitled to bid. Bids must be for a par value of not less than € 1 million or an integral multiple thereof. The price bids must be expressed in terms of full 0.01 percentage points. Non-competitive bids are possible. The bids accepted by the issuer will be allotted at the price bid. Non-competitive bids are filled at the weighted average price of the bids accepted. The right to scale down bids is reserved.
The auction allotments for inflation-linked Federal notes will be included in the existing ranking list of the auction group members for Federal securities issued in auctions. The weighting factor of inflationlinked Federal notes thereby corresponds to the weighting factor of the nominal interest-bearing fiveyear Federal notes ("Bundesobligationen").
The bidding deadline ends - in contrast to usual issuances - at 12.00 a. m. Frankfurt time.
Time schedule of the auction procedure:
Bidding period: Wednesday, 5 March 2008, from 8.00 a. m. until 12.00 a. m. Frankfurt time
Inclusion in stock exchange trading: Wednesday, 5 March 2008
Value date: Friday, 7 March 2008
Settlement: Delivery versus payment-settlement in the night-time processing of Clearstream Banking AG Frankfurt, beginning on the eve of the value date.
Terms of the inflation-linked Federal notes to be reopened:
Maturity: 15 April 2013
Interest payment: 15 April annually
First interest payment: 15 April 2008 for 366 days
Reference index: Harmonized Index of Consumer Prices (HICP) of the Euro area excluding tobacco
Indexation Coefficient: 1.03417 (on the value date 7 March 2008)
In addition, the Auction rules, the Special terms and conditions of the Deutsche Bundesbank for auctions of Federal securities using the Bund Bidding System (BBS) and the terms and conditions of these inflation-linked Federal notes shall apply.
