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CORRECTED-(OFFICIAL)-Ten German states join Deutschlandbond - debt agency
June 20, 2013 / 8:33 AM / 4 years ago

CORRECTED-(OFFICIAL)-Ten German states join Deutschlandbond - debt agency

(Debt agency corrects figure for Saxony-Anhalt, revises up to 2.75 percent from 2.25 percent)

FRANKFURT, June 20 (Reuters) - Ten of Germany’s 16 states will participate in the country’s first joint regional-federal bond, with the federal government taking an above-average stake in the issuance of the “Deutschlandbond”, the German debt agency said on Thursday.

Germany will issue 3 billion euros of the paper with a maturity of 5 or 7 years and a triple-A rating from Fitch, the agency said.

“The federal issuer’s share is at 13.5 percent above the state average,” debt agency chief Tammo Diemer said in an emailed statement.

Only the large North Rhine-Westphalia is taking a higher stake, of 20 percent, while others like Saxony-Anhalt have taken as little as 2.75 percent. (Reporting By Eva Kuehnen, Writing by Sarah Marsh)

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