The Republic of Iceland – Government Debt Management allocated 3,783 million to a 2037 Treasury bond and 3,065 million to a 2050 issue in an Oct. 23 auction, with settlement scheduled for Oct. 28.
The accepted yield was 2.848% for RIKS 37 0115 and 2.750% for RIKS 50 0915. Weighted averages among successful bids were 2.834% and 2.736%, respectively. The lowest yields accepted were 2.820% for the 2037 series and 2.720% for the 2050 series.
Bids totaled 4,283 million for the 2037 bond and 3,315 million for the 2050 issue. The auction received 13 bids for RIKS 37 0115, of which 10 were successful; for RIKS 50 0915, 11 of 14 bids were successful. Bid-to-cover ratios were 1.13 and 1.08, respectively.
The 2037 bond matures Jan. 15, 2037, and the 2050 bond matures Sept. 15, 2050. The auction notice lists a 10% addition for Oct. 27, one day before settlement.
