EZ/UK Bond Supply Calendar: NL / IT to conclude Aug Issuance

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 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: 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 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 has issued the following new bonds in Q3: BTP Short Term maturing Jan 30, 2024 (min E9bln final outstanding), 3-year BTP maturing August 15, 2024 ( 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.
• 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.
• Spain plans to launch its in inaugural green bond with a 20-year maturity in September.
• The UK plans to hold its inaugural green gilt syndication in W/C 20 September with a second green syndication in October (and potentially further Green syndication Jan-Mar). It plans one linker syndication in the Oct-Dec quarter and one conventional syndication in the Jan-Mar quarter.
• The UK DMO will announce its FQ3 (Oct-Dec) gilt operations calendar at 7:30BST on 31 December.