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Bill Supply For W/C Sep 27, 2021

EUROZONE T-BILL ISSUANCE

Germany, France, Italy and Greece will look to sell bills next week. We look for issuance from first round operations of E17.0bln, down from E22.5bln this week.

  • Germany will kick issuance off on Monday morning with E4bln of the new 12-month Sep 21, 2022 bubill.
  • France will then look to sell up to E6.9bln of BTFs: E2.6-3.0bln of the new 14-week Jan 5, 2022 BTF, E1.8-2.2bln of the new 23-week Mar 9, 2022 BTF and E1.3-1.7bln of the 49-week Sep 7, 2022 BTF.
  • On Tuesday, Italy will look to sell E5.5bln of the new 6-month Mar 31, 2022 BOT.
  • Greece will conclude issuance on Wednesday with E625mln of the new 26-week Apr 1, 2022 GTB on offer.

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