Common use of Benchmark Bonds Clause in Contracts

Benchmark Bonds. The general criteria for a Serial Bond to be assigned as a Benchmark Bond are sufficient size, liquidity and diversification among investor base. These criteria are deemed fulfilled when Serial Bond is at least EUR 3 billion in size and a majority of Primary Dealers have participated in the offering of the bond. A Benchmark Bond status is then automatically assigned. Primary Dealer Committee may withdraw the benchmark status of a bond if the criteria no longer apply to the bond. When there is less than one year until maturity of a Benchmark Bond it loses its Benchmark Bond status automatically. A list of Benchmark Bonds is published on State Treasury’s internet site xxx.xxxxxxxxxxxxxxx.xx which will be updated as a new Serial Bond attains Benchmark Bond status or an existing Serial Bond loses its Benchmark Bond status.