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EGB supply for W/C May 10, 2021 (1/2)

EUROZONE ISSUANCE

Germany, the Netherlands, Portugal, Italy and Ireland have issued a total of E20.4bln nominal this week (E19.6bln in cash terms), down on last week's E25.6bln.

  • Germany launched its new 30-year Green Bund on Tuesday that mirrors the existing conventional 0% Aug-50 Bund with E6bln sold (E0.5bln retained by Buba). The transaction saw strong demand with books of E38.9bln and priced at a 2bp premium to the conventional Bund (89.215 at a yield of 0.391%).
  • Also Tuesday, the Netherlands sold E2.35bln the 10-year benchmark 0% Jul-31 DSL against an issuance target of E1.5-2.5bln.
  • On Wednesday, Portugal sold E1.25bln of 10/15-year OTs (the top of its target range): E551mln of the 10-year 0.30% Oct-31 OT and E699mln of the 15-year 0.90% Oct-35 OT.

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