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Bill supply for W/C Mar 1, 2021 (1/2)

EUROZONE T-BILL ISSUANCE

Germany, the Netherlands and France sold a total of E14.1bln of bills on Monday. Spain, Belgium and the ESM then sold a further E9.6bln on Tuesday, concluding issuance for the week. A total of E23.7bln was raised through first round sales, up from E17.2bln last week.

  • Germany allotted E5.080bln of 3/9-month bubils: E2.720bln of the 3-month Jun 9, 2021 bubill and E2.360bln of the 9-month Dec 15, 2021 bubill (with the latter technically uncovered). Issuance volumes for both issues were E3bln.
  • The Netherlands sold E2.15bln of 4/6-month DTCs: E1.02bln of the Jun 29, 2021 DTC and E1.13bln of the Aug 30, 2021 DTC.
  • France then sold E5.989bln BTFs against a target of E4.4-6.0bln of BTFs. E2.599bln of the 12-week May 27, 2021 BTF, E1.494bln of the 21-week Jul 28, 2021 BTF, E0.499bln of the 35-week Nov 4, 2021 BTF and E1.397bln of the new 51-week Feb 23, 2022 BTF.

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