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Belgium has announced its.........>

EUROZONE ISSUANCE: Belgium has announced its issuance plans for 2020.
- Gross borrowing requirements for 2020 are E31.5bln vs E35.7bln for 2019
(E30.1bln first announced).
- OLO issuance is expected at E28.0bln (against E29.7bln in 2019).
- A new 10-year benchmark and a new 15-20 year benchmark are both expected to be
issued via syndication.
- OLO auction calendar: 20-Jan, 23-Mar, 20-Apr, 22-Jun, 27-Jul, 21-Sep, 23-Nov.
- E2.0bln of EMTNs are expected to be issued (or via Schuldscheine).
- T-bill stock is planned to rise by E2.0bln in 2020 (it is planned to rise by
E1.5bln to E27.1bln in 2019).

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