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Bill Supply for W/C Feb 7, 2022: Upcoming

EUROZONE T-BILL ISSUANCE
MNI (London)
Belgium, Finland, the ESM, Spain and Italy are all still due to sell bills this week. We estimate a further E16.6bln of issuance. This would bring the total for the week from first round operations to E31.2bln, up from E13.7bln last week.
  • Spain will kick off this morning's issuance with a combined E5-6bln of 6/12-month letras on offer: 6-month Aug 12, 2022 letras alongside new 12-month Feb 10, 2023 letras.
  • Belgium will then look to sell E2.2-2.6bln of TCs: an indicative E1.0bln of the 3-month May 12, 2022 TC and an indicative E1.4bln of the 11-month Jan 12, 2023 TC.
  • Finland will look to sell up to E500mln of the 6-month Aug 12, 2022 RFTB and up to E500mln of the new 9-month Nov 14, 2022 RFTB.
  • Concluding today's issuance will be the ESM, with E1.1bln of the new 12-month Feb 16, 2022 bill on offer.
  • Italy will conclude bill issuance for the week on Thursday with E6.5bln of the new 12-month Feb 14, 2023 BOT on offer.

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