EZ/UK Bond Supply Calendar: Italy & Germany to issue Tues

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-year OAT (launched 19 May), two 10-year OATs (first launched 6 January), one 15-year OAT (launched 7 April), 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 June, 5-year Aug-27 Green Bobl new issue in Q3 and new conventional 30-year Bund in Q4.
• Italy: In Q2-22, Italy has launched the 3-year 1.20% Aug-25 BTP (minimum outstanding E9bln), the 7-year 2.80% Jun-29 BTP (minimum outstanding E10bln) and the 10-year 2.50% 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 (reopened for E2.813bln inc second round 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 (E5.956bln launch, E2.513bln reopening on 12 April; with total E12bln to be 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 see one DDA re-opening on 14 June. E8.5bln of funding still TBA.
• Slovakia: Plans to sell E2-3bln via syndication in 1-2 transactions in 2022.
• The UK plans to hold a syndicated reopening of the 1.50% Jul-53 Green Gilt in September.