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EGB supply for W/C Apr 5, 2021: Recap

EUROZONE ISSUANCE

Austria and Germany have held auctions so far this week while Italy and Portugal have held syndications. Issuance so far this week is E21.5bln nominal.

  • Austria kicked off issuance on Tuesday with E1.50bln of 10/30-year RAGBs: E977.5mln of the 0% Feb-31 RAGB and E517.5mln of the 0.75% Mar-51 RAGB.
  • Germany allotted E3.307bln of the 0% Apr-26 Bobl on offer on Wednesday with issuance volumes of E4bln.
  • Italy sold E12bln through a dual tranche 7/50-year syndication on Wednesday. It reopened the existing 7-year 0.25% Mar-28 BTP for E7bln with books over E66bln and E5bln of the new 50-year 2.15% Mar-72 BTP with books over E64bln.
  • Portugal also held a syndication on Wednesday, selling E4bln of the new 10-year 0.30% Oct-31 OT with books in excess of E4bln.

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