Netherlands Sells EUR4.982 Bln in January 2044 Green Government Bond — Update
Netherlands #Netherlands
By Emese Bartha
The Netherlands sold 4.982 billion euros ($5.26 billion) in new 3.25% January 2044-dated green government bonds, or DSL, on Tuesday, generating close to four-fold demand, the Dutch State Treasury Agency said.
The issue attracted EUR18.266 billion in demand by book close, slightly lower than indicated during the bookbuilding process, implying a bid-to-cover ratio of 3.67, the DSTA said. The DSTA planned to sell EUR4 billion-EUR5 billion in this green bond which is the second Dutch green sovereign bond.
The cut-off spread on the bond was 29 basis points over the 2.50% July 2044 Bund which was used as pricing reference. The bond was issued at a uniform price of 98.63 and at a uniform yield of 3.345%.
The DSTA said that 76% of the sale was allocated to real-money investors, while 24% went to others.
The bond was issued via a Dutch Direct Auction, or DDA, where the DSTA acts as the sole bookrunner.
Write to Emese Bartha at emese.bartha@wsj.com