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EGB Supply for W/C Jan 25 (1/2)

EUROZONE ISSUANCE

E41.5bln nominal of EGBs have been issued this week. Issuance for the week kicked off on Tuesday with E20.7bln sold by the Netherlands, Italy and the EU. On Wednesday a further E12bln was sold by Germany, Austria, Greece and Slovenia. On Thursday, Italy sold E8.75bln BTPs/CCTeu.

  • The Netherlands kicked off issuance on Tuesday selling E2.705bln of the 0.25% Jul-25 DSL against a target of E2-3bln.
  • Italy sold at the top end of its target ranges of CTZ/BTPei: E3.0bln of the Sep-22 CTZ and E1.00bln of the 0.65% May-26 BTPEi.
  • The EU also come to the market via a dual-tranche syndicated issue of SURE bonds. E10bln of the new long 7-year 0% Jun-28 was sold alongside E4bln of the existing 0.30% Nov-50.

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