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EGB Supply For W/C Oct 4, 2021 (1/2)

EUROZONE ISSUANCE

The ESM, Austria, Germany, Spain, France and Belgium are all due to issue bonds this week. We look for gross nominal issuance of E24.0bln, slightly up from this week's E22.1bln.

  • The ESM has issued an RFP for a syndication this week. We look for a E1-2bln size with the transaction taking place today.
  • Tomorrow, Austria will look to sell E1.265bln of its 4/10-year benchmark RAGBs: the 0% Apr-25 RAGB and the 0% Feb-31 RAGB.
  • Also tomorrow, Germany will look to sell up to E700mln linkers: E500mln of the 0.10% Apr-33 ILB and E200mln of the 0.10% Apr-46 ILB.
  • Germany will return to the market Wednesday to sell E4ln of the 0% Oct-26 Bobl.

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