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EGB Supply: W/C 11 Sep, 2023 (1/3)

EUROZONE ISSUANCE

The EU, Slovenia, the Netherlands, Germany, Portugal and Ireland all look to issue in the week ahead. We pencil in gross nominal issuance of E29.9bln, higher than last week’s E26.7bln.

  • The EU has issued an RFP for an EU-bond syndication, which was already pencilled into its calendar for the W/C 11 September. We don’t have a strong view on which bonds will be on offer but pencil in Tuesday transaction.
  • Slovenia held an investor call on Thursday ahead of a 10-year USD benchmark syndicated transaction.
  • Tomorrow, the Netherlands will look to kick off auctions for the week with E2.0-2.5bln of the 0% Jan-26 DSL (ISIN: NL0015000QL2) on offer.
  • Also tomorrow, Germany will look to sell on E5.5bln of the 3.10% Sep-25 Schatz (ISIN: DE000BU22023).
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The EU, Slovenia, the Netherlands, Germany, Portugal and Ireland all look to issue in the week ahead. We pencil in gross nominal issuance of E29.9bln, higher than last week’s E26.7bln.

  • The EU has issued an RFP for an EU-bond syndication, which was already pencilled into its calendar for the W/C 11 September. We don’t have a strong view on which bonds will be on offer but pencil in Tuesday transaction.
  • Slovenia held an investor call on Thursday ahead of a 10-year USD benchmark syndicated transaction.
  • Tomorrow, the Netherlands will look to kick off auctions for the week with E2.0-2.5bln of the 0% Jan-26 DSL (ISIN: NL0015000QL2) on offer.
  • Also tomorrow, Germany will look to sell on E5.5bln of the 3.10% Sep-25 Schatz (ISIN: DE000BU22023).