---
title: "Federal Government reopens 2.90% five-year Federal notes series 194 by auction in Frankfurt am Main, Germany; €6 billion increase in issue size"
sdDatePublished: "2026-08-05T09:15:00Z"
source: "https://www.bundesbank.de/resource/blob/964806/9dd8f2c567f601f52782f67e362cc0ae/472B63F073F071307366337C94F8C870/2026-08-05-ankuendigung-download.pdf"
topics:
  - name: "government debt"
    identifier: "medtop:20000368"
  - name: "public finance"
    identifier: "medtop:20000608"
locations:
  - "Frankfurt am Main"
  - "Germany"
---


Federal Government reopens 2.90% five-year Federal notes series 194 by auction in Frankfurt am Main, Germany; €6 billion increase in issue size

Auction announcement – Reopening of five-year Federal notes (Bundesobligationen – “Bobls”) series 194 by auction

Deutsche Bundesbank, Communications Department
Wilhelm-Epstein-Strasse 14, 60431 Frankfurt am Main, Germany
presse@bundesbank.de, www.bundesbank.de
Reproduction permitted only if source is stated.
Press release

Frankfurt am Main
5 August 2026
Page 1 of 1
Auction announcement
Reopening of five-year Federal notes
(Bundesobligationen – “Bobls”) series 194 by auction

As already announced in the issue calendar for the third quarter of 2026, the Federal Government
will reopen the

2.90 % five-year Federal notes series 194 of 2026 (2031)

ISIN DE000BU25075

on 11 August 2026, using an auction procedure. An increase of € 6 billion is envisaged for the issue
(auction allotment and retention quote). The current volume of this series amounts to € 6 billion.
Members of the Bund Issues Auction Group are entitled to bid.

Time schedule of the auction procedure:

Date of invitation to bid: Monday, 10 August 2026
Bidding period:
Tuesday, 11 August 2026,

from 8.00 a.m. until 11.30 a.m. Frankfurt time
Inclusion in stock
exchange trading:
Tuesday, 11 August 2026
Value date:
Thursday, 13 August 2026

Characteristics of the five-year Federal notes:

Maturity:
8 October 2031
Interest payment:
annually on 8 October,
interest has begun to accrue on 23 July 2026
First interest payment: 8 October 2027 for 442 days