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EGB supply for W/C Apr 5, 2021 (1/2)

EUROZONE ISSUANCE

Austria, Germany, Spain and France have held auctions this week while Italy and Portugal have held syndications. This week we have seen E38.4bln of gross nominal issuance, significantly higher than the E12.6bln issued last week.

  • 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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