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EGB Supply For W/C May 9, 2022 (1/2)

EUROZONE ISSUANCE
MNI (London)

The EU, the Netherlands, Austria, Germany, Portugal, Italy and Ireland are due to sell bonds next week. We look for estimated gross nominal issuance of E27.8bln, up from E19.4bln this week.

  • The EU will hold a syndication next week, with details to come. We expect the issuance volume to be approx. E7bln.
  • The Netherlands will kick off issuance for the week on Tuesday morning, with E2-3bln of the 0% Jan-26 DSL (ISIN: NL0015000QL2) on offer.
  • Austria will also come to the market on Tuesday, to sell a combined E1.38bln of on-the-run 7/10-year RAGBs: the 0% Oct-28 RAGB (ISIN: AT0000A2VB47) and the 0.90% Feb-32 RAGB (ISIN: AT0000A2WSC8).
  • Germany will conclude Tuesday's issuance, looking to sell E3bln of the 0% Apr-27 Bobl (ISIN: DE0001141851).

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