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EGB Supply

EUROZONE ISSUANCE

Spain and France both all look to issue today while Germany and Greece have already come to the market this week. We pencil in gross nominal issuance of E29.0bln, down a little from E31.1bln last week.

  • Spain will come to the market this morning to hold a Bono/Olbi auction for E5.5-6.5bln. On offer will be the 3-year on-the-run 2.80% May-26 Bono (ISIN: ES0000012L29), alongside the 5-year 1.40% Apr-28 Obli (ISIN: ES0000012B39), the on-the-run 15-year 3.90% Jul-39 Obli (ISIN: ES0000012L60) and the 30-year 1.00% Oct-50 Obli (ISIN: ES0000012G00).
  • France will also come to the market this morning to hold a MT OAT auction for E11-12bln. Both of the on-the-run issues are on offer, the 3-year 2.50% Sep-26 OAT (ISIN: FR001400FYQ4) and the 5-year 2.75% Feb-29 OAT (ISIN: FR001400HI98, alongside the 0.75% May-28 OAT (ISIN: FR0013286192).
  • France will return later today to launch a new OATei, the new 0.60% Jul-34 OATei, for E1.75-2.25bln.
For more on this week's issuance and a look ahead to next week's supply see the PDF here:

EZ230720.pdf

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