EZ/UK Bond Supply Calendar: EU Auction, BoE APF 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: The Netherlands has cancelled its DSL auction originally scheduled for June 25.
• Austria plans 3-4 syndication in 2024 (it has held one triple tranche on 18 January) and to raise E6.0bln through green issuance (with an 80/20 bond/bill split).
• Belgium has launched its planned 3 new benchmark OLOs for in 2024 via syndications (3 in 2023). 5-year 2.70% Oct-29 OLO (launched on 9 April), 10-year 2.85% Oct-34 OLO (launched on 9 January) and 30-year 3.50% Jun-55 OLO launched on 7 February. Belgium has also sold USD1.25bln of the 30-year 4.875% Jun-55 USD bond and may hold further EMTN transactions if funding conditions remain favourable.
• The EU has 6 planned syndications in H1 2024.
• Finland plans 3 syndications in 2024, 30-year benchmark has already been issued (on 17 January), a new 10-year is due. E10bln is expected to be raised at syndications in 2024.
• France plans to launch the following new issues in 2024: one new 3-year OAT (launched 18 January), one new 5/6-year OAT (launched on 18 April), two new 10-year OATs via auction, new 30-year OAT via syndication (launched 27 February), one new 10-year OATei and under consideration is a 15-20-year OATi. 3.00% Jun-49 Green OAT was launched on 16 January.
• Germany looks to raise E12bln via syndication in 2024, including at least one green syndication. So far the 30-year 2.50% Aug-54 Bund was launched in January and then reopened for a combined E10.5bln.
• Ireland intends to conduct "at least one" syndication in Q1 2024. It launched a new 10-year IGB on 11 January.
• Italy: New bonds to be issued in Q2 are a 3-year BTP maturing 15 July 2027 (minimum outstanding E9bln, MNI expects June launch), and a 7-year BTP maturing 15 July 2031 (minimum outstanding E10bln, launched on May 10 as expected by MNI). Bonds to be reopened in Q2 are the 3.20% Jan-26 BTP Short Term (minimum outstanding E9bln), the `(minimum outstanding E9bln, already exceeded), the 5-year 3.35% Jul-29 BTP (minimum outstanding E10bln), the 7-year 3.50% Feb-31 BTP (minimum outstanding E10bln already exceeded), and the 10-year 3.85% Jul-34 BTP (minimum outstanding E10bln). MEF will evaluate the possibility of placing a new BTP Green via syndication.
• Italy has launched one BTP Valore (first launched W/C 27 February) (and will consider more) and will also look for one or more BTP Italia launches in 2024. Possibility of new BTP Futura would be based on market conditions and demand for the instrument.
• Slovakia plans to raise E4.5-5.5bln through syndications in 2024 with 2-3 new issues launched: one 2-year (launched on 5 February, max issue size E1.5bln), one 4- year (launched on 5 February, max issue size E3bln), one 10-year (launched on 27 February; max issue size E5bln).
• The BOE will publish its Q3-24 APF sales schedule at 16:30BST on Friday 21 June.
• The UK DMO will hold its next quarterly consultation meetings with investors and GEMMs to discuss FQ2 issuance on Monday 20 May.
• The UK DMO plans to launch a new 10-year gilt via syndication in June.
• Across FY24/25, the UK plans to hold 4 conventional syndications (raising GBP8.5bln medium and GBP13.5bln long dated) and 3 linker syndications (GBP9bln target).