Germany's debt agency said Tuesday that it plans to increase its target for third quarter debt sales due to higher net borrowing requirement.
"Due to the increase of the net borrowing requirement decided with the supplementary Federal budget, the Federal Government will adjust its issuance program in the third quarter of 2012," the debt agency said in a statement.
Germany now plans to sell EUR 71 billion in debt in the third quarter, instead of EUR 68 billion projected in December.
The government will borrow EUR 50 billion on the capital market in the third quarter, higher than EUR 47 billion originally planned. It, however, retained the target for issuance of treasury discount paper or Bubills at EUR 21 billion.
by RTT Staff Writer
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