Germany, France and Spain will....>

EUROZONE ISSUANCE: Germany, France and Spain will come to market next week with

issuance of E16.5bln compared to E22.5bln raised last week.

- ISSUANCE: Germany will be the first to sell next week with a planned tap of

the 0.0% Oct-24 Bobl for E3bln on Wednesday. Spain will then come to market on

Thursday to re-open the 0.65% Nov-27 Linker, 0.60% Oct-29 Obli and the 2.70%

Oct-48 Obli with the nominal targets to be announced on Monday. France will be

the largest issuer of the week with a E8.0-9.5bln tap of the 0.00% Nov-29 OAT,

1.50% May-50 OAT and the 4.00% Apr-55 OAT on Thursday.

- CASH FLOWS: Redemptions will come to E10.7bln and coupon payments will total

E2.8bln, which will leave net cash flow at E3.1bln.

- For further details please see MNI Issuance Profile and Cash Flow Matrix:

{https://emedia.marketnews.com/CFM300919xdcfgvh.pdf}