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EGB Supply

EUROZONE ISSUANCE

France, Slovakia, the Netherlands, Germany, Italy and Belgium are all due to issue this week. We pencil in estimated gross issuance for the week at E21.0bln, down from E30.0bln last week. We also note the huge redemptions and coupon payments.

  • France has announced a mandate for a syndication for a new long 30-year OAT (maturing May-55) to be held in the near future. We pencil in a E5.0bln transaction today with risks of a larger size.
  • Slovakia will also come to the market in the near future (again MNI expects today) to launch a new 10-year SlovGB. MNI pencil in a transaction size of E1-2bln.
  • Today, the Netherlands will come to the market to sell E1.5-2.0bln of the 3.25% Jan-44 Green DSL (ISIN: NL0015001RG8). This will be the first reopening of the bond since it was launched via DDA in October.
  • Also today, Germany will look to sell E1bln of the 0% Aug-50 Green Bund (ISIN: DE0001030724).
For more on today's syndications, this week's issuance and a look ahead to next week's supply see the PDF here:

EZ240227.pdf

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