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Issuance for 2021 (part 1)

GERMANY
  • Germany plans to raise E469-471bln through auctions in 2021 with two syndications in addition (2020 saw E406.5bln issued).
  • Capital markets issuance E216bln and bill issuance E241bln
  • Schatz: 12 auctions E64bln. 4 new issues. Launch auctions of E6ln and reopenings of E4-6bln.
  • Bobls: 12 auctions E48bln. 2 new issues. Launch auctions of E5bln and reopenings of E3-4bln.
  • 7-year Bund: 8 auctions (monthly from April) with E22bln of new Nov-28 Bund. Launch auction E4bln and reopenings of E3bln.
  • 10-year Bund: 12 auctions E48bln. 2 new issues. Launch auctions of E5bln and reopenings of E3-4bln.
  • 15-year Bund: 9 auctions with E23bln of new May-36 Bund. Launch auction of E3bln and reopenings of E2.5bln.
  • 30-year Bund: 9 auctions with E11bln through 2048, 2050 and new 2052 Bunds. Auctions of E1.0-1.5bln. New Aug-52 Bund to launch via syndication in September 2021.

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