German financial agency adjusts third-quarter debt issuance plans

BERLIN, June 21 (Reuters)Germany’s debt agency on Tuesday adjusted its third-quarter bond issuance plans from its December forecast as the government grapples with war-related costs in Ukraine, including offering relief to consumers faced with soaring energy prices.

The adjustments include the reopening of the 30-year bond maturing in August 2048, scheduled for August 10, 2022, which will be increased by 500 million euros ($527.25 million) to 1.5 billion. euros.

On September 14, 2022, instead of reopening the 30-year bond maturing in August 2052 with a volume of 1.5 billion euros, the 30-year bond maturing in July 2044 will be reopened with a volume of 1 billion euros, the agency said.

In addition, the agency specifies that the coupon of the 10-year bond maturing in August 2032, which will be issued for the first time on July 6, 2022, is set at 1.70%.

The agency will update its calendar for the fourth quarter in September.

While the government is trying to stick to issuance plans as much as possible to give reliable guidance to the market, the amounts and dates may change depending on the government’s funding needs and liquidity situation, it said. the agency.

($1 = 0.9483 euros)

(Reporting by Rene Wagner Writing by Madeline Chambers Editing by Paul Carrel)

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Louis R. Hancock