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Bill supply for W/C Apr 19, 2021

EUROZONE T-BILL ISSUANCE

Germany, the Netherlands, France, Spain, the ESM and Portugal will sell an estimated E20.1bln of bills next week, down from this week's E23.1bln (from first round operations).

  • Germany will kick off issuance on Monday morning with E6bln of 5/11-month bubills on offer: E3bln of each of the Sep 29, 2021 bubill and the Mar 23, 2022 bubill.
  • The Netherlands will also come to the market on Monday morning with E1-2bln of each of the Jul 29, 2021 DTC and the Sep 29, 2021 DTC on offer.
  • Monday afternoon will see France sell E5.3-6.5bln of BTFs: E2.5-2.9bln of the new 13-week Jul 21, 2021 BTF, E1.3-1.7bln of the 22-week Sep 22, 2021 BTF and E1.5-1.9bln of the 48-week Mar 23, 2022 BTF.
  • On Tuesday, Spain will come to the market to sell 3-month Jul 9, 2021 letras and 9-month Jan 14, 2022 letras. The amount will be confirmed on Monday.
  • The ESM will also come to the market on Tuesday, selling E1.5bln of the new 6-month Oct 21, 2021 bill.
  • On Wednesday, Portugal has a provisionally scheduled 3/11-month BT auction. On offer would be a combined E1.00-1.25bln of the Jul 16, 2021 BT and the Mar 18, 2022 BT.
For details of upcoming T-bill auctions see the MNI Eurozone/UK T-bill auction calendar here.

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