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EGB Supply For W/C Apr 4, 2022 (2/2) - Recap

EUROZONE ISSUANCE
MNI (London)
  • Yesterday,Spain sold E5.038bln (vs the E4.5-5.5bln target range) of benchmark 5/7/10-year Oblis: E1.507bln of the 1.50% Apr-27 Obli (ISIN: ES00000128P8), E1.205bln of the 0.80% Jul-29 Obli (ISIN: ES0000012K53) and E2.326bln of the 0.70% Apr-32 Obli (ISIN: ES0000012K20). A further E530mln (vs E250-750mln range) of the 0.70% Nov-33 Obli-Ei (ISIN: ES0000012C12) was sold.
  • Also on Thursday, France sold E11.499 (top of the target range) of LT OATs: E6.433bln of the 0% May-32 OAT (ISIN: FR0014007L00), E3.466bln of the new 1.25% May-38 OAT (ISIN: FR0014009O62) and E1.6bln of the 0.50% May-72 OAT (ISIN: FR0014001NN8).

NET NOMINAL FLOWS: This week saw two notable redemptions: an EU bond for E2.7bln (originally a 10-year) and a German Bobl for E20.5bln. Coupon payments are expected to come in at E0.2bln. This leaves net estimated net flows for the week at positive E7.2bln (from negative E21.2bln last 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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