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Germany, France, Spain,....>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: Germany, France, Spain, Netherlands, Belgium,
Portugal, Ireland, Slovenia and the ESM issued bills this week. Total supply
came to E30.4bn compared to E38.5bn last week.
- RECAP: Germany was the first to auction with a sale of 3- and 9-month bubills
on Monday and allotted E5.6bn. The Netherlands followed with a sale of 6.5- and
11.5-month DTCs for E3.71bn. France concluded Monday's issuance with a sale of
3-/6-/12-month BTFs for a combined E8.79bn. Spain sold E3.1bn of 3- and 9-month
letras on Tuesday. On the same day Belgium sold E2.59bn of the Nov 12, 2020 and
Jul 15, 2021 TCs. The ESM sold E1.5bn of 12-month bills. Slovenia auctioned
3-/6-/15-month bills for a combined E174mn. Portugal came to market on Wednesday
to sell 6- and 12-month for E1.75bn. Ireland rounded off issuance for the week
with an auction of 5-month bills for E750mn on Thursday.
- CASH FLOWS: E27.6bn of redemptions will leave net cash flows at E2.5bn for the
week. ** For further details please MNI Eurozone T-Bill Calendar.

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