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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
MNI (London)
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.
- Austria: 3-4 syndications in 2022 (from 3 in 2021). One triple tranche already held on 19 January 2022 and a single tranche on 23 March.
- Belgium: Up to 3 new benchmark OLOs intended to be launched in three syndications in 2022 (up from 2 in 2021). New 10-year launched on 18 January, new 30-year launched on 15 February and a Green OLO due with maturity to be determined.
- Finland looks to hold three syndications in 2022: it has already launched the long 20-year 0.50% Apr-43 RFGB on 26 January and also looks to launch a new 5-year and a new 10-year.
- France: New bonds planned in 2022: One 3-year OAT (launched 20 January), one 5/6-year OAT, two 10-year OATs (first launched 6 January), one 15-year OAT, one new 30-year OATei (launched 25 January via syndication). Potential issues to be examined: 20-30-year OAT via syndication, 10-15-year inflation-linked Green bond. France has E15bln of Green eligible expenditures for 2022 (of which E2.784bln has already been issued).
- Germany: 2022 planned syndications: 30-year 0% Aug-52 Bund reopened on 1 March, 30-year 0% Aug-50 Green Bund reopen in Q2, 5-year Aug-27 Green Bobl new issue in Q3 and new conventional 30-year Bund in Q4.
- Italy: In Q2-22, Italy plans to launch the 3-year Aug-25 BTP (minimum outstanding E9bln), the 7-year Jun-29 BTP (minimum outstanding E10bln) and the 10-year Dec-32 BTP (minimum outstanding E10bln). It also plans to reopen the 0% Nov-23 BTP Short Term (minimum outstanding E9bln already surpassed), the 3-year 0% Dec-24 BTP (minimum outstanding E9bln already surpassed), 5-year 1.10% Apr-27 BTP (minimum outstanding E10bln), and also the 10-year 0.95% Jun-32 BTP (minimum outstanding E10bln already surpassed).
- Netherlands: 2022 new issues: 5-year Jan-26 DSL launched via MTS auction on 11 January for E5.411bln inc second round, reopening scheduled for 10 May (E8bln to be issued in 2022 with E12bln target size within 18 months), 10-year Jul-32 DSL via DDA on 15 February with reopening scheduled for 12 April (E5.956bln launch with E12bln issued through 2022), new 30-year DSL via DDA with timing TBA (E5bln to be issued in 2022 with E10bln eventual size). On-the-run issues to be tapped in 2022: 0% Jan-29 DSL one auction held due for one more 2022 auction of E1.9bln. 0.50% Jan-40 Green DSL (current outstanding E10.7bln) will be increased in size by E5bln in one re-opening in June. E8.5bln of funding still TBA.
- Slovakia: Plans to sell E2-3bln via syndication in 1-2 transactions in 2022.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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