---
source: Deutsche Finanzagentur
url: https://www.deutsche-finanzagentur.de/fileadmin/user_upload/Institutionelle-investoren/auktionen/emissionsergebnisse_aktuell_en.pdf
document_type: pdf
date_retrieved: 2026-04-22T10:48:30Z
period: April 22, 2026
parent_publication: Auction Results (Consolidated)
indicators_covered: ["15 Year Bund Yield"]
---

# Federal Republic of Germany — 15-Year Bund Auction Results

**ISIN:** DE000BU2F009  
**Coupon:** 2.60%  
**Maturity:** May 15, 2041 (15-year)  
**Auction Date:** April 22, 2026  
**Issuance Process:** Multi-ISIN  
**Type:** Reopening (R)

## auction summary

| Metric | Value |
|--------|-------|
| Issuance Volume | €1,000 million |
| Total Bids Received | €2,615 million |
| Competitive Bids | €963 million |
| Noncompetitive Bids | €1,652 million |
| Allotted Volume | €963.44 million |
| Bid-to-Cover Ratio | 2.7x |
| Lowest Accepted Price | 91.31 |
| Weighted Average Price | 91.33 |
| **Average Yield** | **3.34%** |
| Retention Quote | €36.56 million |

## context

- Previous auction yield: 3.29% (last verified from MEMORY.md)
- The 15-Year Bund was auctioned alongside a 20-Year Bund (DE000BU2T000) in the same Multi-ISIN process.
- Total bids exceeded the issuance volume by a factor of 2.7, indicating strong demand.
- Noncompetitive bids accounted for the majority of total bids (€1,652m of €2,615m).

---

*Source: Deutsche Finanzagentur, consolidated auction results PDF updated April 22, 2026, 09:52 UTC.*