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EGB Supply for W/C Jan 25: Recap

EUROZONE ISSUANCE

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.

  • The Netherlands kicked off issuance on Monday 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.
  • On Tuesday, Germany allotted E3.307bln of the Feb-31 Bund with an issuance volume of E4bln.
  • Austria launched a new 10-year Feb-31 RAGB via syndication for E4bln.
  • Greece also launched a new 10-year benchmark via syndication, the Jun-31 GGB for E3.5bln.
  • Slovenia sold a new 60-year Mar-81 SLOREP via syndication for E500mln.

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