Germany’s New 20-Year Bond Sale Draws Near Record Demand

Germany raised €6.5 billion ($7.7 billion) from its first ever sale of new 20-year bonds, with investors piling in at a near record rate.

Orders for the new May 2047 note exceeded €73 billion, just shy of a national record set for a 30-year bond two years ago. The price was set at two basis points over comparable bonds, slightly lower than initial guidance, according to people familiar with the matter, who asked not to be identified.