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MNI EGB Issuance, Redemption and Cash Flow Matrix - W/C Oct 19

Germany, Belgium, the ESM and Slovakia will issue bonds in the W/C Oct 19. We estimate supply of E8.4bn compared to E26.1bn the previous week.

ISSUANCE:

  • Slovakia will hold the first auction of the week with a tap of the 0.125% Jun-27 SlovGB, 0.75% Apr-30 SlovGB, 1.625% Jan-31 SlovGB and the 1.875% Mar-37 SlovGB on Monday for a combined E571mn.
  • Belgium will then re-open the 0.10% Jun-30 OLO and the 1.45% Jun-37 OLO for 1.3-1.8bn.
  • On Tuesday Germany will offer EUR4bn of the 0 Sep-22 Schatz.
  • The ESM has sent at RfP which indicates a bond auction will take place by end-week.


CASH FLOWS:

  • E9.0bn in redemption and E1.9bn in coupon payments will leave net cash flows at E-2.6bn for the week.

** For further details please see MNI Eurozone Issuance Profile and Cash Flow Matrix:

cfm191020dasd.pdf

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