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EUROZONE ISSUANCE
EUROZONE ISSUANCE: Germany, France, Spain, and Slovakia issued EGBs this week.
In addition, Italy arranged an issuance tap for specialists. Total supply came
to E26.8b compared to E47.2bn last week.
- RECAP: Slovakia sold the 0.0% Jun-24 and 0.125% Jun-27 bonds for a combined
E959mn on Monday. On Wednesday Germany allotted E4.14bn of the 0% Aug-30 bund.
Italy then sold E1.57bn of the Jul-23 CCTeu, 2.80% Dec-28 BTP and the 1.65%
Mar-32 BTP via an issuance tap for specialists. Spain sold the 0.0% Apr-23 bono,
0.0% Jan-25 Bono, 5.90% Jul-26 Obli and the 1.25% Oct-30 Obli for E5.88bn on
Thursday. France concluded issuance for the week with a sale of the 0.0% Feb-23
OAT, 0.0% Mar-25 OAT, 0.0% Feb-26 OAT 0.75% May-28 OAT for E11.0bn as well as
the new 0.10% Mar-26 OATEi for E2.43bn.
- CASH FLOWS: There will be E27.7bn in redemptions and E1.2bn in coupon payments
which will leave cash flows at E-2.1b n for the week.
** For further details please see MNI Eurozone Issuance Profile & Cash Flow
Matrix. https://emedia.marketnews.com/CFM150620psml.pdf

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