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EZ/UK Bond Supply Calendar: Germany / Portugal to issue Wed

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.

14-Jul-211030GermanyE4bln0% Aug-31 BundRe-open
14-Jul-211030PortugalE1bln0.475% Oct-30 OTRe-open
14-Jul-211030Portugal""4.10% Apr-37 OTRe-open
15-Jul-210930SpainE5-6bln0.25% Jul-24 BonoRe-open
15-Jul-210930Spain""0% Jan-28 BonoRe-open
15-Jul-210930Spain""0.50% Oct-31 ObliRe-open
15-Jul-210930Spain""4.20% Jan-37 ObliRe-open
15-Jul-210950FranceE9.5-10.5bln0% Feb-24 OATRe-open
15-Jul-210950France""0% Feb-26 OATRe-open
15-Jul-210950France""2.75% Oct-27 OATRe-open
15-Jul-210950France""0.75% Nov-28 OATRe-open
15-Jul-211050FranceE1.25-1.75bln0.10% Jul-31 OATeiRe-open
15-Jul-211050France""0.10% Jul-36 OATeiRe-open
20-Jul-211000UKTBA 13-Jul1.625% Oct-71 GiltRe-open
20-Jul-211030GermanyE4bln0% Nov-28 BundRe-open
21-Jul-211030GermanyE1.5bln1.25% Aug-48 BundRe-open
26-Jul-211100BelgiumTBA 23-JulOLOTBA 19-Jul
27-Jul-211000ItalyTBABTP Short Term/BTPeiTBA 22-Jul
27-Jul-211000UKTBA 20-Jul0.375% Oct-26 GiltRe-open
28-Jul-211030GermanyE2.5bln0% May-36 BundRe-open
28-Jul-211030PortugalTBAPotential OT auctionTBA 23-Jul
29-Jul-211000ItalyTBAM/T & L/T BTPTBA 26-Jul
03-Aug-211000AustriaTBAReserve dateTBA 29-Jul
03-Aug-211000UKTBA 27-Jul1.25% Jul-51 GiltRe-open
04-Aug-211030GermanyE4bln0% Oct-26 BoblRe-open
05-Aug-210930SpainTBABono/OlbiTBA 30-Jul
05-Aug-210950FranceTBAL/T OATTBA 30-Jul
06-Aug-211100BelgiumTBAORI FacilityTBA 05-Aug
10-Aug-211000UKTBA 3-Aug0.25% Jul-31 GiltRe-open
11-Aug-211000UKTBA 4-Aug0.125% Mar-39 linkerRe-open
11-Aug-211030GermanyE4bln0% Aug-31 BundRe-open
11-Aug-211030PortugalTBAPotential OT auctionTBA 6-Aug
12-Aug-211000ItalyTBAM/T & L/T BTPTBA 9-Aug
17-Aug-211000UKTBA 10-Aug0.875% Jan-46 GiltRe-open
17-Aug-211030GermanyE6blnSep-23 SchatzNew
18-Aug-211030GermanyE1bln0% Aug-50 BundRe-open
19-Aug-210930SpainTBABono/Olbi/ObliEiTBA 13-Aug
19-Aug-210950FranceTBAM/T OATTBA 13-Aug
19-Aug-211050FranceTBAI/L OATTBA 13-Aug
24-Aug-211000UKTBA 17-Aug0.375% Oct-26 GiltRe-open
24-Aug-211030GermanyE3bln0% Nov-28 BundRe-open
25-Aug-211030PortugalTBAPotential OT auctionTBA 20-Aug
26-Aug-211000ItalyTBABTP Short Term/BTPeiTBA 23-Aug
31-Aug-210900NetherlandsTBAExisting DSLTBA 25-Aug
31-Aug-211000ItalyTBAM/T & L/T BTPTBA 26-Aug
01-Sep-211000UKTBA 25-AugJan-29 GiltNew
01-Sep-211030GermanyE4bln0% Oct-26 BoblRe-open
02-Sep-210930SpainTBABono/OlbiTBA 27-Aug
02-Sep-210950FranceTBAL/T OATTBA 27-Aug
07-Sep-211000AustriaTBARAGBTBA 2-Sep
07-Sep-211000UKTBA 31-Aug0.25% Jan-25 GiltRe-open
07-Sep-211030GermanyTBAI/L BundTBA 2-Sep
07-Sep-211130UKTBA 31-Aug1.625% Oct-71 GiltRe-open
08-Sep-211000UKTBA 1-Sep0.125% Aug-31 linkerRe-open
08-Sep-211030GermanyE3.5bln0% Aug-31 Green BundNew
08-Sep-211030PortugalTBAPotential OT auctionTBA 3-Sep
09-Sep-211000IrelandE1.25blnIrish Govt BondTBA 05-Sep
14-Sep-210900NetherlandsE3-5blnJan-29 DSLDate TBC
14-Sep-211000ItalyTBAM/T & L/T BTPTBA 9-Sep
14-Sep-211000UKTBA 7-Sep0.375% Oct-26 GiltRe-open
14-Sep-211030GermanyE5blnSep-23 SchatzRe-open
15-Sep-211000UKTBA 8-Sep0.25% Jul-31 GiltRe-open
16-Sep-210930SpainTBABono/Olbi/ObliEiTBA 10-Sep
16-Sep-210950FranceTBAM/T OATTBA 10-Sep
16-Sep-211050FranceTBAI/L OATTBA 10-Sep
W/C 20-Sep----ESMTBAExpected transaction
21-Sep-211030GermanyE3bln0% Nov-28 BundRe-open
22-Sep-211000UKTBA 15-Sep0.125% Nov-56 linkerRe-open
22-Sep-211030GermanyE2.5bln0% May-36 BundRe-open
22-Sep-211030PortugalTBAPotential OT auctionTBA 17-Sep
24-Sep-211000ItalyTBABTP Short Term/BTPeiTBA 21-Sep
27-Sep-211100BelgiumTBA 24-SepOLOTBA 20-Sep
28-Sep-210900NetherlandsTBAExisting DSLTBA 22-Sep
28-Sep-211000UKTBA 21-Sep1.25% Jul-51 GiltRe-open
29-Sep-211000ItalyTBAM/T & L/T BTPTBA 24-Sep
29-Sep-211030GermanyE4bln0% Aug-31 BundRe-open
05-Oct-211000AustriaTBARAGBTBA 30-Sep
05-Oct-211000UKTBAConventional giltTBA 23-Aug
05-Oct-211030GermanyTBAI/L BundTBA 30-Sep
06-Oct-211000UKTBAConventional giltTBA 23-Aug
06-Oct-211030GermanyE4bln0% Oct-26 BoblRe-open
07-Oct-210930SpainTBABono/OlbiTBA 1-Oct
07-Oct-210950FranceTBAL/T OATTBA 01-Oct
08-Oct-211100BelgiumTBAORI FacilityTBA 07-Oct
12-Oct-210900NetherlandsTBAProvisional dateTBA 06-Oct
12-Oct-211000UKTBAConventional giltTBA 23-Aug
12-Oct-211030GermanyE5blnSep-23 SchatzRe-open
13-Oct-211000ItalyTBAM/T & L/T BTPTBA 8-Oct
13-Oct-211000UKTBAI/L giltTBA 23-Aug
13-Oct-211030GermanyE1blnAug-52 BundRe-open
13-Oct-211030PortugalTBAPotential OT auctionTBA 8-Oct
19-Oct-211000UKTBAConventional giltTBA 23-Aug
20-Oct-211000UKTBAConventional giltTBA 23-Aug
20-Oct-211030GermanyE3bln0% Aug-31 Green BundRe-open
21-Oct-210930SpainTBABono/Olbi/ObliEiTBA 15-Oct
21-Oct-210950FranceTBAM/T OATTBA 15-Oct
21-Oct-211050FranceTBAI/L OATTBA 15-Oct
26-Oct-210900NetherlandsTBAProvisional dateTBA 20-Oct
26-Oct-211000ItalyTBABTP Short Term/BTPeiTBA 21-Oct
26-Oct-211000UKTBAConventional giltTBA 23-Aug
26-Oct-211030GermanyE3bln0% Nov-28 BundRe-open
27-Oct-211030GermanyE2.5bln0% May-36 BundRe-open
27-Oct-211030PortugalTBAPotential OT auctionTBA 22-Oct
28-Oct-211000ItalyTBAM/T & L/T BTPTBA 25-Oct
02-Nov-211000AustriaTBARAGBTBA 28-Oct
02-Nov-211000UKTBAConventional giltTBA 23-Aug
02-Nov-211030GermanyTBAI/L BundTBA 28-Oct
03-Nov-211000UKTBAConventional giltTBA 23-Aug
03-Nov-211030GermanyE4bln0% Oct-26 BoblRe-open
04-Nov-210930SpainTBABono/OlbiTBA 29-Oct
04-Nov-210950FranceTBAL/T OATTBA 30-Oct
09-Nov-210900NetherlandsTBAProvisional dateTBA 03-Nov
09-Nov-211000UKTBAConventional giltTBA 23-Aug
09-Nov-211030GermanyE6blnDec-23 SchatzNew
10-Nov-211000UKTBAI/L giltTBA 23-Aug
10-Nov-211030GermanyE3bln0% Aug-31 BundRe-open
10-Nov-211030PortugalTBAPotential OT auctionTBA 5-Nov
11-Nov-211000ItalyTBAM/T & L/T BTPTBA 8-Nov
16-Nov-211000UKTBAConventional giltTBA 23-Aug
17-Nov-211000UKTBAConventional giltTBA 23-Aug
17-Nov-211030GermanyE1blnAug-52 BundRe-open
18-Nov-210930SpainTBABono/Olbi/ObliEiTBA 12-Nov
18-Nov-210950FranceTBAM/T OATTBA 12-Nov
18-Nov-211050FranceTBAI/L OATTBA 12-Nov
22-Nov-211100BelgiumTBA 19-NovOLOTBA 15-Nov
23-Nov-210900NetherlandsTBAProvisional dateTBA 17-Nov
24-Nov-211030GermanyE2.5bln0% May-36 BundRe-open
24-Nov-211030PortugalTBAPotential OT auctionTBA 19-Nov
25-Nov-211000ItalyTBABTP Short Term/BTPeiTBA 22-Nov
30-Nov-211000ItalyTBAM/T & L/T BTPTBA 25-Nov
30-Nov-211030GermanyE3bln0% Nov-28 BundRe-open
01-Dec-211000UKTBAConventional giltTBA 23-Aug
01-Dec-211030GermanyE3bln0% Oct-26 BoblRe-open
02-Dec-210930SpainTBABono/OlbiTBA 26-Nov
02-Dec-210950FranceTBANominal and/or linkerOptional
02-Dec-211000UKTBAConventional giltTBA 23-Aug
07-Dec-211000UKTBAConventional giltTBA 23-Aug
07-Dec-211030GermanyE4blnDec-23 SchatzRe-open
08-Dec-211000UKTBAI/L giltTBA 23-Aug
08-Dec-211030GermanyE3bln0% Aug-31 BundRe-open
13-Dec-211000SlovakiaTBAReserve date
14-Dec-210900NetherlandsTBAProvisional dateTBA 08-Dec
14-Dec-211000AustriaTBARAGBTBA 9-Dec
14-Dec-211000ItalyTBAM/T & L/T BTPTBA 9-Dec
14-Dec-211000UKTBAConventional giltTBA 23-Aug
16-Dec-210930SpainTBABono/Olbi/ObliEiTBA 10-Dec
17-Dec-211100BelgiumTBAORI FacilityTBA 16-Dec
29-Dec-211000ItalyTBABTP Short TermTBA 23-Dec
30-Dec-211000ItalyTBAM/T & L/T BTPTBA 27-Dec
05-Jan-220930SpainTBABono/OlbiTBA 30-Dec
05-Jan-221000UKTBAConventional gilt
11-Jan-221000UKTBAConventional gilt
12-Jan-221000UKTBAI/L gilt
13-Jan-221000ItalyTBAM/T & L/T BTPTBA 10-Jan
18-Jan-221000UKTBAConventional gilt
19-Jan-221000UKTBAConventional gilt
20-Jan-220930SpainTBABono/Olbi/ObliEiTBA 14-Jan
25-Jan-221000UKTBAConventional gilt
26-Jan-221000ItalyTBABTP Short Term/BTPeiTBA 21-Jan
26-Jan-221000UKTBAI/L gilt
28-Jan-221000ItalyTBAM/T & L/T BTPTBA 25-Jan
01-Feb-221000UKTBAConventional gilt
02-Feb-221000UKTBAConventional gilt
08-Feb-221000UKTBAConventional gilt
09-Feb-221000UKTBAI/L gilt
15-Feb-221000UKTBAConventional gilt
16-Feb-221000UKTBAConventional gilt
23-Feb-221000UKTBAI/L gilt
01-Mar-221000UKTBAConventional gilt
02-Mar-221000UKTBAConventional gilt
08-Mar-221000UKTBAConventional gilt
15-Mar-221000UKTBAConventional gilt
16-Mar-221000UKTBAI/L gilt
22-Mar-221000UKTBAConventional gilt
  • Austria had planned to hold 3-4 syndicated issues in 2021. It has already launched 3 new issues via syndication: a single tranche 10-year and dual tranche 4-year/50-year.
  • Belgium had planned to launch 2-3 new OLO benchmarks in two syndicated deals in 2021. It has already held two syndications, launching a new 10-year benchmark on 12 January and a new 50-year syndication on 2 February. Green OLO issuance is limited to EUR1.5bln in 2021.
  • EFSF funding for the year is completed.
  • ESM funding schedule: Q3: E2.0bln, Q4: E2.0bln, 2022: E8.0bln.
  • EU NGEU funding schedule: No funding scheduled for August. Auctions will begin in September with one auction per month and one syndication per month.
  • EU other funding: MFA: E1.5bln still to be issued in 2021. SURE: Funding complete for 2021 with the rest to be completed in 2022. EFSM funding for 2021 completed.
  • Finland looks to launch a new benchmark RFGB bond in Q3, likely in August or September. It also may hold an EMTN transaction in Q3.
  • France has launched new 3-year, 5-year, 10-year, 30-year and 50-year OATs, a 10-year OATei, a 10-year OATi and a 20-year Green OAT.
  • Germany plans one further syndication in 2021: In September it plans to launch the new 30-year Aug-52 Bund.
  • Italy will issue the following new bonds in Q3: BTP Short Term maturing Jan 30, 2024 (min E9bln final outstanding), 3-year BTP maturing August 15, 2025 ( Min E9bln final outstanding), 5-year BTP maturing August 1, 2026 (Min E10bln final outstanding).
  • Italy will reopen the following bonds in Q3: BTP Short Term 0% Nov-22, 5-year BTP 0% Apr-26, 7-year BTP 0.50% Jul-28, 10-year BTP 0.95% Dec-31, Other 10+ year on-the-run bonds alongside BTPei, CCTeu and potentially off-the-run CTZ and CCTeu.
  • Netherlands could launch new DSL 2029 on either 14 or 28 September.
  • Slovakia plans to three more auctions in 2021 with at least one syndicated transaction (single or dual tranche). The maximum to be raised via syndication will be E4.0bln. It has already launched a new 15-year bond via syndication for E1.5bln.
  • Slovakia will not use the reserve auction dates scheduled for July or August.
  • The UK plans to hold a total of three conventional (two already held), two linker (one already held) and an unspecified number of Green syndications in FY21/22.
  • The UK plans to hold its inaugural green gilt syndication in September.
  • The UK DMO will hold its next quarterly consultation meeting with investors and GEMMs on 23 August.

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