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EGB supply for W/C Mar 22, 2021 (1/2)

EUROZONE ISSUANCE

The EU, Belgium, the Netherlands, Germany and Italy have issued bonds so far this week for a combined nominal gross issuance of E27.8bln, down from a total of E41.5bln issued last week.

  • Belgium sold E3.0bln of 5/10/20y OLOs on Monday, at the top of its target range: E627mln of the 1.00% Jun-26 OLO, E1.485bln of the 0% Oct-31 OLO and E890mln of the 0.40% Jun-40 OLO. A further E655mln was sold in the non-competitive second round.
  • The EU held a syndicated dual-tranche transaction for its SURE programme on Tuesday, selling a total of E13bln of new 5/25-year bonds: E8bln of the 0% Mar-26 bond and E5bln of the 0.45% May-46 bond.
  • The Netherlands also come to the market on Tuesday, selling E1.775bln of the 2.50% Jan-33 DSL against a target range of E1.5-2.5bln.

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