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EGB Supply For W/C June 13, 2022 (1/2)

EUROZONE ISSUANCE

Finland, Spain and France are still due to sell bonds this week for an estimated E18.6bln. The Netherlands, the EFSF, Italy and Germany have already issued a combined E18.5bln so far this week. We look for total estimated gross nominal issuance of E37.1bln, up from the E14.9bln sold last week.

  • The EFSF held a syndication yesterday to launch the new 10-year 2.375% Jun-32 bond with a transaction size of E2bln.
  • The Netherlands held a DDA for E4.982bln (top of the target range) of the 0.50% Jan-40 Green DSL (ISIN: NL0013552060).
  • Also yesterday, Italy sold E6.0bln of 3/7/27/30-year BTPs (top of the target range): E2.0bln of the 3-year on-the-run 1.20% Aug-25 BTP (ISIN: IT0005493298), E2.5bln of the 7-year on-the-run 2.80% Jun-29 BTP (ISIN: IT0005495731), E748mln of the 27-year off-the-run 3.85% Sep-49 BTP (ISIN: IT0005363111) and E752mln of the 30-year on-the-run 2.15% Sep-52 BTP (ISIN: IT0005480980).
  • Finally yesterday, Germany sold E5.5bln (E4.518bln allotted) of the 0.20% Jun-24 Schatz (ISIN: DE0001104883).

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