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Bill Supply For W/C May 31, 2021

EUROZONE T-BILL ISSUANCE

France, Belgium, the ESM and Greece are due to issue bonds next week. It will be a light week in terms of volumes with E9.6bln expected to be issued, down from E16.5bln this week.

  • France is due to kick off bill issuance for the week with up to E6.5bln of BTFs on offer: E2.1-2.5bln of the new 13-week Sep 1, 2021 BTF, E1.3-1.7bln of the 20-week Oct 20, 2021 BTF and E1.9-2.3bln of the 50-week May 18, 2022 BTF.
  • Belgium will come to the market on Tuesday looking to sell an indicative E800mln of the 3-month Sep 9, 2021 TCs (E0.6-1.0bln range).
  • The ESM will also come to the market to sell E1.5bln of 3-month Sep 9, 2021 bills on Tuesday.
  • On Wednesday, Greece will look to sell E625mln of 26-week Dec 3, 2021 GRTBs.

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