EZ/UK Bond Supply Calendar: BOE Long APF Operation on Monday

Below are the known dates for auctions of European bonds and UK gilts. All times are UK.

See the notes section at the bottom for more colour.

• Cancelled auctions:
  • Germany has cancelled its Bund auction on 6 December.
  • Italy has cancelled the following auctions:
    • 13 December: BTP with longer maturity than 10-years (although it will still hold its 3-year BTPand 7-year BTP auction on this day).
    • 27 December: BTP Short Term auction.
    • 28 December: 5/10-year BTP / CCTeu auction.
  • Slovakia will not utilise its reserve auction on 18 December.
  • Spain has cancelled its Bono/Obli auction on 14 December.
• Austria plans to hold 3 to 4 RAGB syndications in 2023. It held its first on 4 January (10-year 2.90% Feb-33 RAGB) and on 18 April held a dual-tranche to launch the 2.90% May-29 Green RAGB and the 30-year 3.15% Oct-53 RAGB. It then held a triple tranche transaction on 19 October to launch the 7-year 3.45% Oct-30 RAGB, tap the 13-year 0.25% Oct-36 RAGB and also tap the 1.85% May-49 Green RAGB.
• Belgium has held its three planned new OLOs syndications for 2023: it launched the 10-year 3.00% Jun-33 OLO on 10 January, the 30-year 3.30% Jun-54 OLO on 15 February and the 20-year 3.45% Jun-43 OLO on 16 May.
• The EFSF and the ESM have both completed their planned 2023 issuance.
• Finland plans to launch three new bonds via syndication in 2023 and has already launched the 3.00% Sep-33 RFGB on 26 April and the 2.75% Apr-38 RFGB on 26 January. It plans to issue a 5-year RFGB in H2.
• France has now launched all of its planned 2023 new issues: one new 3-year OAT (2.50% Sep-26 OAT launched on 16 February), one new 5/6-year OAT (2.75% Feb-29 OAT launched on 20 April), two new 10-year OATs via auction (the 3.00% May-33 OAT launched on 6 April and the 3.50% Nov-33 OAT on 5 October), new 30-year OAT via syndication (3.00% May-54 OAT launched 7 February), 15-20-year OATi (0.55% Mar-39 OATi launched on 7 June) and one new 10-year OATei (0.60% Jul-34 launched on 20 July).
• Germany has already held its planned four syndications in 2023. It has already tapped the 1.80% Aug-53 Bund on 23 February, and 29 August. It has launched the 10-year 2.30% Feb-33 Green Bund on 25 April and launched the 30-year 1.80% Aug-53 Green Bund on 13 June.
• Greece plans to issue its inaugural Green GGB in H2-2023.
• Ireland has completed its 2023 issuance.
• Italy Q4 issuance plans:
  • BTP Short-Term: Reopen 3.60% Sep-25 BTP Short Term (minimum E9bln outstanding already exceeded).
  • 3-year BTP: Reopen 3.85% Sep-26 (minimum E9bln outstanding).
  • 5-year BTP: Launch new 4.10% Feb-29 BTP (minimum E10bln outstanding).
  • 7-year BTP: Reopen 4.00% Nov-30 BTP (minimum E10bln outstanding).
  • 10-year BTP: Reopen 4.20% Mar-34 BTP (minimum E10bln outstanding).
• Slovakia's investor presentation ahead of the June syndication noted it expected to raise E4.0-5.0bln through syndications. This has already been exceeded with a total of E5.5bln raised through the launch of the 12-year 3.75% Feb-35 SlovGB and the 20-year 4.00% Feb-43 SlovGB in a dual-tranche transaction on 15 February and the 10-year 3.625% Jun-33 SlovGB on 1 June.
• The UK DMO has announced it will hold an index-linked syndicationin March 2024.
• The UK DMO plans to hold its next GEMM/Investor consultations on 18 March 2024 (subject ot budget timing).