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Bill Supply for W/C Feb 14, 2022 (1/2)

EUROZONE T-BILL ISSUANCE
MNI (London)

Germany, France, Spain, the ESM, Portugal, the EU and Ireland are all due to sell bills this week. We estimate E16.0bln of issuance, up from E31.5bln last week.

  • Germany will kick off issuance for the week on Monday morning with E3bln of the 6-month Aug 24, 2022 bubill on offer.
  • Monday afternoon, France will look to sell up to E5.9bln of BTFs: E2.6-3.0bln of the May 11, 2022 BTF, E1.3-1.7bln of the new 23-week Jul 27, 2022 BTF and E0.8-1.2bln of the 49-week Jan 25, 2023 BTF.
  • Spain will come to the market on Tuesday with 3/9-month letras on offer with the amount to be confirmed this afternoon. On offer will be 3-month May 6, 2022 letras alongside 9-month Nov 11, 2022 letras.
  • Also Tuesday, the ESM will come to the market to sell E1.1bln of the new 6-month Aug 18, 2022 bill.

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