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EGB Supply For Oct 12-13, 2021: Recap

EUROZONE ISSUANCE

The EU, Netherlands, Germany sold E18.8bln of bonds on Tuesday. Italy and Germany sold a further E7.5bln on Wednesday.

  • The EU headlines issuance this week with the launch of its inaugural green bond via syndication on Tuesday. The E12bln WNG transaction saw a huge book size of E135bln.
  • The Netherlands kicked off the week's auctions also on Tuesday, selling E1.75bln of the 2.75% Jan-47 DSL against a target of E1-2bln.
  • Germany also held an auction with healthy demand as it allotted E3.916bln of the 0% Sep-23 Schatz with an issuance size of E5bln.
  • Italy came to the market Wednesday morning to sell E6.5bln of benchmark 3/7/30-year BTPs, the top of the target range: E3bln of the 0% Aug-24 BTP, E2bln of the 0.50% Jul-28 BTP and E1.5bln of the 1.70% Sep-51 BTP.
  • Germany returned to the market Wednesday, allotting E816mln of the 30-year 0% Aug-52 Bund with issuance volumes of E1bln.

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