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EGB FUNDING UPDATE: Finland Q4 Funding Plans

EGB FUNDING UPDATE
EurozoneBulletGlobalFixed Income BulletsRegionMarkets
  • 2 RFGB auctions for E1.0-1.5bln each on 15 October and 19 November.
  • However, it appears as though the second of these auctions has the potential to be withdrawn: "To complete the long-term funding requirement for the year, one or two more tap auctions of existing euro benchmark bond lines as well as two ORI auctions are expected to take place in the last quarter of the year."
  • 2 previously announced ORI auctions for up to E400mln on 24 October and 28 November.
  • There will be no Finnish syndication in Q4 (that's as expected).
  • Last week's funding update saw net borrowing requirement revised to E11.859bln with gross borrowing of E42.111bln.
  • "As in previous years, bonds may be issued under the EMTN programme to complement the funding in euro benchmark bonds during the year, market conditions permitting."
  • 2 RFTB auctions are planned for E1-2bln each on 8 October and 12 November.
  • "In addition to Treasury bill auctions, a tap issuance window for bills is likely to open during the last quarter of the year."
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  • 2 RFGB auctions for E1.0-1.5bln each on 15 October and 19 November.
  • However, it appears as though the second of these auctions has the potential to be withdrawn: "To complete the long-term funding requirement for the year, one or two more tap auctions of existing euro benchmark bond lines as well as two ORI auctions are expected to take place in the last quarter of the year."
  • 2 previously announced ORI auctions for up to E400mln on 24 October and 28 November.
  • There will be no Finnish syndication in Q4 (that's as expected).
  • Last week's funding update saw net borrowing requirement revised to E11.859bln with gross borrowing of E42.111bln.
  • "As in previous years, bonds may be issued under the EMTN programme to complement the funding in euro benchmark bonds during the year, market conditions permitting."
  • 2 RFTB auctions are planned for E1-2bln each on 8 October and 12 November.
  • "In addition to Treasury bill auctions, a tap issuance window for bills is likely to open during the last quarter of the year."