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Free AccessEGB issuance is nearly done for...>
EUROZONE ISSUANCE: EGB issuance is nearly done for the week, with an Italian
sale on Thursday, and syndications underway for Finland and the ESM.
- ISSUANCE: Finland opened books Tuesday for E3bln of new 10-year benchmark
Sep-28 RFGB via syndication for E3.0bln (priced MS -28), with ESM syndicating
re-open of 1.85% Dec-55 bonds for E0.75bln (MS +16) and new 10-Yr benchmark bond
for E3.25bln (MS -11). On Thursday, Italy re-opens Oct-23 2.45% BTP for
E3.00-3.75bln, Dec-28 2.80% BTP for E1.75-2.25bln, and CCTeu Oct 24 and CCTeu
Sep-25 for a total of E1.25-1.75bln.
- RECAP: On Tuesday, Italy sold E1.75bln Mar-20 CTZ. On Wednesday Germany
reopened Oct-23 0.0% Bobl for E3.0bln.
- CASH FLOWS: There are no redemptions this week, but there are E6.7bn in coupon
payments (by Italy). This will leave cash flow positive by around E7.7bln,
compared with flat last week (no issuance, minimal coupons/redemptions).
** For full detail please see MNI Eurozone bond auction calendar, MNI Eurozone
Net Cash Flow Matrix: https://tinyurl.com/gkrtmav and MNI Eurozone Issuance
Profile: https://tinyurl.com/y7qhuwh2
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.