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EUROZONE ISSUANCE: EGB Supply - W/C 7 October (1/2)

EUROZONE ISSUANCE
EurozoneBulletGlobalFixed Income BulletsRegionMarkets

The EU will hold a syndication in the upcoming week, whilst the Netherlands, Austria, Germany and Italy look to hold auctions. We also think that there is a good chance of a Slovakian syndication in the week. We pencil in estimated gross issuance for the week at E23.4bln, a little below the E25.6bln sold this week.

  • The EU will hold a syndication in the W/C 7 October. We don’t have a strong view surrounding the bond(s) that will be on offer but we note the last two years has seen the EU launch a new 20-year issue in October while October 2021 saw the launch of a new 15-year Green EU-bond.
  • On Tuesday 8 October, the Netherlands will kick off auctions for the week with the on-the-run 10-year 2.50% Jul-34 DSL (ISIN: NL0015001XZ6) on offer for E2.0-2.5bln.
  • Also on Tuesday 8 October, Austria will hold an RAGB auction. On offer will be a combined E1.725bln of the on-the-run 10-year 2.90% Feb-34 RAGB (ISIN: AT0000A39UW5) and the on-the-run 30-year 3.15% Oct-53 RAGB (ISIN: AT0000A33SK7).
  • Germany also on Tuesday 8 October, will hold its final Green auction of the year. On offer will be E1bln of the 2.30% Feb-33 Green Bund (ISIN: DE000BU3Z005).
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The EU will hold a syndication in the upcoming week, whilst the Netherlands, Austria, Germany and Italy look to hold auctions. We also think that there is a good chance of a Slovakian syndication in the week. We pencil in estimated gross issuance for the week at E23.4bln, a little below the E25.6bln sold this week.

  • The EU will hold a syndication in the W/C 7 October. We don’t have a strong view surrounding the bond(s) that will be on offer but we note the last two years has seen the EU launch a new 20-year issue in October while October 2021 saw the launch of a new 15-year Green EU-bond.
  • On Tuesday 8 October, the Netherlands will kick off auctions for the week with the on-the-run 10-year 2.50% Jul-34 DSL (ISIN: NL0015001XZ6) on offer for E2.0-2.5bln.
  • Also on Tuesday 8 October, Austria will hold an RAGB auction. On offer will be a combined E1.725bln of the on-the-run 10-year 2.90% Feb-34 RAGB (ISIN: AT0000A39UW5) and the on-the-run 30-year 3.15% Oct-53 RAGB (ISIN: AT0000A33SK7).
  • Germany also on Tuesday 8 October, will hold its final Green auction of the year. On offer will be E1bln of the 2.30% Feb-33 Green Bund (ISIN: DE000BU3Z005).