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EGB Supply

EUROZONE ISSUANCE

Belgium, Germany and Finland are all still due to come to the market this week, while the EFSF, Slovakia, the EU, Spain, the Netherlands, Lithuania and Austria have already issued this week. We pencil in estimated gross issuance for the week at E34.8bln, down from E59.0bln last week.

  • Belgium announced a mandate for its second syndication of 2024, with the transaction to take place in the “near future” – we expect today. On offer, as we had flagged likely in the previous publications, will be a new 30-year Jun-55 OLO. We pencil in a E5-7bln transaction size.
  • Also today, Germany will come to the market with E3bln of the 7-year 2.40% Nov-30 Bund (ISIN: DE000BU27006) on offer.
  • Finland will conclude the week’s scheduled issuance tomorrow with up to E0.4bln available for 1-2 RFGBs through the ORI Facility.
For more on this week's issuance and a look ahead to next week's supply see the PDF here:

EZ240207.pdf

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