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Four Eurozone issuers......>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: Four Eurozone issuers will sell an estimated total of
E10.4bln in bills this week, versus E17.8bln sold last week. The ESM and
Portugal are yet to come to market.
- RECAP: The Netherlands opened the week`s bill issuance on Monday, selling
E1.2bln of 3-month Jun 27, 2019 DTC, and E1.3bln of 6-month Sep 30, 2019 DTC. On
Monday afternoon, France sold E5.0bln of 3-/6-/12-month bills: E2.6bln of Jul
10, 2019 BTF, E-1.1bln of Sep 25, 2019 BTF, and E1.3bln of Mar 25, 2020 BTF.
- ISSUANCE: On Tuesday, the ESM sells E2bln of new 6-month Oct 24, 2019 bills.
Then on Wednesday, Portugal wraps things up ahead of the Easter holidays,
selling a combined E1.0-1.25bln of 3-month Jul 19, 2019 BT and 12-month Mar 20,
2020 BT.
- CASH FLOW: Redemptions of E8.1bln are due this week (France E6.1bln and ESM
2.0bln), leaving net cash flow at positive E2.3bln, versus flat last week.

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