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Austria, Spain and France are.....>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: Austria, Spain and France are all due to come to the market
next week. We estimate supply for the week at E15.3bln compared to E22.2bln last
week.
- ISSUANCE: Austria kick off issuance for the week, coming to the market on
Wednesday to issue 10 and 30-year RAGBs. The 0.00% Feb-30 RAGB and the 1.50%
Feb-47 RAGB will both be on offer with a combined E1.035bln due to be issued. On
Wednesday, Spain will sell a combination of Bonos, Oblis and Obli-Eis for a
combined total of E4.0-5.0bln with 3/5/10-year nominals and a 14-year linker.
Specifically the 0.00% Apr-23 Bono, the 0.00% Jan-25 Bono, the 0.50% Apr-30 Obli
and the 0.70% Nov-33 Obli-Ei are on offer. France will round off the week with
10/15/30-year OATs on offer for E8.0-9.5bln. Specifically the 0.00% Nov-29 OAT,
1.25% Nov-34 OAT and 0.75% May-52 OAT will be sold.
- CASH FLOWS: There will be E23.6bln in redemptions and E9.8bln in payments
which will leave net cash flows tat -E18.1bln for the week.
** For further information please see MNI Eurozone Issuance Profile & Cash Flow
Matrix: https://emedia.marketnews.com/CFM010320odnt.pdf

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