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Italy and Ireland round off.......>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: Italy and Ireland round off Sovereign bond issuance Thursday.
Overall issuance is expected to come in at around E15bn.
- ISSUANCE: Italy re-open 0.05% Apr-21 BTP for E1.5-E2bln, 1.45% May-25 BTP for
E1.5-E2bln, 2.45% Sep-33 BTP for E0.75-E1.25bln and 2.95% Sep-38 BTP for
E0.75-E1.25bln. Ireland then tap 10-yr 0.90% May-28 and 2.0% Feb-45 for between
E1.0-E1.25bln.
- RECAP: To recap issuance so far this week on Tuesday the Netherlands tapped
0.75% DSL Jul-28 for E2.185bln. While Germany re-opened 0.50% Apr-30 IL Bund and
0.10% Apr-46 IL Bund for a combined E0.8bln. On Wednesday Germany issued new
10-yr Aug-28 Bund for E4bln and Portugal tapped 2.125% Oct-28 PGB and 2.25%
Apr-34 PGB for E650mln and E300mln respectively.
- CASH FLOWS: There are no redemptions and no significant coupon payments this
week so leaving net cash flow positive to tune of E15bln.
** For full details, please see MNI Eurozone bond auction calendar, MNI Eurozone
Net Cash Flow Matrix: https://tinyurl.com/gkrtmav and MNI Eurozone Issuance
Profile: https://tinyurl.com/y7qhuwh2

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