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EGB Supply For W/C Sept 19, 2022

EUROZONE ISSUANCE

The ESM, Slovakia, Finland and Germany will all look to come to the market next week, with a potential for a Slovenian syndication (and other syndications). We look for estimated gross nominal issuance of E8.9bln from announced operations, down significantly from last week’s E47.2bln.

  • The ESM has issued an RFP for a potential transaction for the upcoming week. We would expect the mandate to be announced today with the transaction tomorrow.
  • Slovakia will kick off auction issuance for the week this morning with E362.6mln of 2/7/15/30-year SlovGBs on offer: E100mln of the 0% Jun-24 SlovGB (ISIN: SK4000017398), E62.6mln of the 0.75% Apr-30 SlovGB (ISIN: SK4120015173), E100mln of the 0.375% Apr-36 SlovGB (ISIN: SK4000018958) and E100mln of the 1.00% Oct-51 SlovGB (ISIN: SK4000019857).
  • Belgium’s auction originally scheduled for today was cancelled in light of last week’s new Green OLO syndication.
For more on this week's issuance see the MNI EGB Issuance, Redemption and Cash Flow Matrix here.

For a full calendar of all announced EGB/EU/ESM/EFSF auctions see the MNI EZ/UK Bond Supply Calendar here.

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