Germany to reopen two federal bonds in €2 billion auction
The Deutsche Bundesbank announced a multi-ISIN auction on February 25, 2026, to reopen two federal bonds. The auction aims to increase the total volume of the 2022 and 2024 bonds by €2 billion.
Two bonds, €2 billion increase
The upcoming multi-ISIN auction on February 25, 2026, will see the reopening of two specific Federal bonds.
These include the 1 percent bond of the Federal Republic of Germany issued in 2022, maturing on May 15, 2038, with ISIN DE0001102598. This bond currently has a volume of €31.25 billion.
The second bond is the 2.60 percent bond of the Federal Republic of Germany issued in 2024, maturing on May 15, 2041, with ISIN DE000BU2F009, which currently stands at €19 billion.
A total increase of €2 billion is planned across both bonds, with each bond receiving an envisaged increase of €1 billion.
The final allocation for each bond will be determined by the results of the allotment process on the auction date.
Auction process and timeline
Participation in the auction is restricted to members of the Bund Issues Auction Group.
Bids must be for a minimum par value of €1 million or an integral multiple thereof, with price bids expressed in full 0.01 percentage points.
Non-competitive bids are also permitted and will be filled at the weighted average price of accepted competitive bids.
The invitation to bid will be issued on Tuesday, February 24, 2026. The bidding period itself is scheduled for Wednesday, February 25, 2026, from 8:00 a.m. until 11:30 a.m.
Frankfurt time.
The bonds will be included in stock exchange trading on the same day, with the value date set for Friday, February 27, 2026. The auction will adhere to the Bundesbank’s specific rules and terms for Federal securities auctions.