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/BELGIUM ISSUANCE: Belgium........>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: /BELGIUM ISSUANCE: Belgium announced 2019 issuance plans,
which include gross borrowing requirements of E30.11bln, vs E33.59bln in 2018:
- Net financing estimated at E5.35bln
- Redemptions of medium/long-term debt of E23.35bln, with buy-backs of E1.16bln
- E28bln of OLOs, including two new benchmarks: 10-Yr and a (minimum) 15-Yr
- 7 auctions (possibly replaced by syndications), including off-the-runs taps
- E2bln via EMTN / Schuldscheine, E0.25bln of private State Note issuance
- S/T net debt down E0.14bln
- Volume of TC bills at end-2019 around 24.6bln, same as end-2018, with 2 TC
auctions per month

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