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EGB Supply - W/C March 20, 2023 (2/2)

EUROZONE ISSUANCE
  • On Tuesday, Germany will look to sell E1.5bln of the 1.30% Oct-27 Green Bobl (ISIN: DE0001030740).
  • Also Tuesday, Finland will look to sell 5/15-year RFGBs: up to E1.0bln of the 0.50% Sep-28 RFGB (ISIN: FI4000348727) and up to E500mln of the 0.125% Apr-36 RFGB (ISIN: FI4000415153).
  • On Wednesday, Germany will look to sell E5bln of the 2.30% Feb-33 Bund (ISIN: DE000BU2Z007).
  • If market conditions allow, there is the potential for an Austrian syndication either in the upcoming week or the following week.
  • Next week we might also start to receive some updated issuance plans regarding Q2 issuance.

NET NOMINAL FLOWS: The upcoming week sees a E7.0bln redemption of a formerly 10-year Irish government bond and coupon payments of E1.1bln. With estimated gross nominal issuance of E16.0bln next week, we look for net flows of positive E7.9bln in the week ahead, down from this week’s positive E22.1bln.

For more on next week's issuance and a recap of this week's operations see the PDF here.

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