Ach du lieber Himmel! Germany lines up return to syndications as funding needs boom

By Burhan Khadbai
07 Apr 2020

Germany’s Finanzagentur has outlined plans to sell its first syndicated bonds since 2015, with a new 15 year in May and a reopening of an existing 30 year bond in June. It said further syndications could follow in the second half of the year as it comes to terms with a much bigger funding programme in response to the Covid-19 crisis.

The Finanzagentur said a new May 2035 bond will be syndicated next month, which will be increased for an additional €2.5bn via auction in June. Meanwhile, the sovereign will increase the size of its outstanding August 2050 bond via syndication in June.

Germany’s decision to syndicate those maturities ...

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