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EGB Supply For W/C Apr 18, 2022 (2/2) - Recap

EUROZONE ISSUANCE
MNI (London)
  • Spain came to the market yesterday, selling E5.541bln (vs E5-6bln target range) of the on-the-run 3-year Bono and off-the-run 10/30-year Oblis: E2.381bln the 0% May-25 Bono (ISIN: ES0000012K38), E1.460bln of the 5.75% Jul-32 Obli (ISIN: ES0000012411) and E1.700bln of the 2.70% Oct-48 Obli (ISIN: ES0000012B47).
  • France then sold E10.989bln (top of the target range) of OATs: E3.645bln of the 0% Feb-25 OAT (ISIN: FR0014007TY9), E4.450bln the 0% Feb-27 OAT (ISIN: FR0014003513) and E2.894bln the 2.50% May-30 OAT (ISIN: FR0011883966).
  • France completed this week's issuance, sellinga further E1.498bln (top of the target range) of linkers yesterday: the 0.10% Jul-31 OATei (ISIN: FR0014001N38), 0.10% Mar-36 OATi (ISIN: FR0013524014) and 0.10% Jul-53 OATei (ISIN: FR0014008181).

NET NOMINAL FLOWS: There was a single redemption this week, E8.5bln of an Austrian RAGB (originally issued as a 10-year) while coupon payments were E1.0bln. This left net flows for the week at positive E15.1bln (from negative E5.6bln this week).

For a calendar of all announced EGB/EU/ESM/EFSF auctions see the MNI EZ/UK Bond Supply Calendar here.

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