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EGB Supply


France and Finland both look to issue today while Germany has already come to the market this week. We pencil in gross nominal issuance of E17.9bln compared to E10.5bln last week.

  • This morning will see France hold a MT OAT auction, where it will look to sell E7.5-8.5bln across the following OATs: The 3Y 2.50% Sep-26 OAT (ISIN: FR001400FYQ4), the 6Y 2.75% Feb-29 OAT (ISIN: FR001400HI98) and the 8Y 1.50% May-31 OAT (ISIN: FR0012993103) which was last on offer in September 2022.
  • France will return to the market later this morning to hold an IL OAT auction, where it will look to sell E0.5-1.0bln across the following OATei’s: The 1.85% Jul-27 OATei (ISIN: FR0011008705) and the 0.10% Jul-38 Green OATei (ISIN: FR001400AQH0).
  • Finland will conclude issuance for the week by holding an ORI operation with a combined total of up to E400mln of the 1.125% Apr-34 RFGB (ISIN: FI4000306758) and the 0.125% Apr-52 RFGB (ISIN: FI4000480488) on offer.
  • Note that Spain has announced that it will not be holding its auction originally scheduled for today.
For more on this week's issuance and a look ahead to next week's supply see the PDF here:


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