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EGB Supply For W/C Mar 21, 2022 (1/2)

EUROZONE ISSUANCE
MNI (London)

Slovakia, Belgium, the EU, the Netherlands, Germany, Austria and Italy have already sold bonds this week for E31.7bln. Italy is due to issue bonds on Friday for a further E2.5-3.5bln. This would raise an estimated E35.2bln of gross nominal issuance, up from last week's E30.9bln.

  • Slovakia kicked off issuance for the week on Monday, selling a total of E368mln of SlovGBs (E290mln was originally on offer): E133mln of the 0% Jun-24 SlovGB (ISIN: SK4000017398), E39mln of the 1.00% Oct-30 SlovGB (ISIN: SK4000017059), E129mln of the 0.375% Apr-36 SlovGB (ISIN: SK4000018958) and E67mln of the 1.00% Oct-51 SlovGB (ISIN: SK4000019857).
  • Belgium also sold bonds on Monday, reopening a combined E3.122bln of OLOD (top of the target range): E805mln the 0.90% Jun-29 OLO (ISIN: BE0000347568), E1.516bln of the 0.35% Jun-32 OLO (ISIN: BE0000354630) and E801mln of the 0.40% Jun-40 OLO (ISIN: BE0000350596).
  • The EU held a syndication on Tuesday, issuing E10bln of the new 10-year 1.00% Jul-32 EU NGEU bond (ISIN: EU000A3K4DD8) and E2.17bln of the new 15-year 1.125% Jun-37 EU SURE bond (ISIN: EU000A3K4DE6).
  • Also Tuesday, the Netherlands sold E2.5bln (top of the target range) of the 0.75% Jul-28 DSL (ISIN: NL0012818504).
  • Germany completed Tuesday's issuance selling E4.0bln (E3.3248 allotted) of the 0% Apr-27 Bobl (ISIN: DE0001141851).

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