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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 and the EU have already sold bills this week, raising E15.1bln in first round operations. Only Ireland is still due to sell bills this week for E750mln. In total, we estimate E15.8bln of issuance for this week, down from E31.5bln last week.

  • Germany kicked off issuance for the week on Monday, selling E3bln (E2.886bln allotted) of the 6-month Aug 24, 2022 bubill on offer.
  • Also on Monday, France sold E5.887bln of BTFs: E2.997bln of the May 11, 2022 BTF, E1.693bln of the new 23-week Jul 27, 2022 BTF and E1.197bln of the 49-week Jan 25, 2023 BTF.
  • Spain came to the market Tuesday selling a total of E1.9bln of 3/9-month letras; E500mln of the 3-month May 6, 2022 letras alongside E1.400bln of the 9-month Nov 11, 2022 letras.
  • Also on Tuesday, the ESM sold E1.054bln of the new 6-month Aug 18, 2022 bill.

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