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Germany, France, Spain,....>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: Germany, France, Spain, the Netherlands and the ESM
issued T-bills this week. Supply came in at E10.0bln down from E16.0bln last
week.
- RECAP: Germany was the first to issue this week with a E1.235bn allotment of
the Jun 10, 2020 bubill on Monday. The Netherlands followed with auctions of the
Mar 31, 2020 DTC and the Jun 29, 2020 DTC for E2.24bln. France then sold a
combination of 3-/6-/12-month BTFs for E3.695bln. Spain sold E1.355bln in letras
on Tuesday. The ESM followed with a E1.5bln sale of 6-month bills.  
- CASH FLOWS: There will be E5.5bln in redemptions which will leave net cash
flows at E4.5bln for the week.
** For further details please see MNI Eurozone T-Bill Calendar

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