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EGB Supply for W/C Feb 15 (2/2)

EUROZONE ISSUANCE
  • Spain sold Bonos/Oblis for E5.11bln vs a E4.5-5.5bln target on Thursday: E2.035bln of the 0% May-24 Bono, E1.11bln of the 0.80% Jul-27 Obli, E1.5bln of the 0.10% Apr-31 Obli and E465.93mln of the 4.90% Jul-40 Obli.
  • France then sold E10.04bln MT OATs on Thursday against a E9.5-10.5bln target: E4.34bln of the 0% Feb-24 OAT, E2.658bln of the 0% Feb-26 OAT and E3.04bln of the 0.50% May-29 OAT.
  • France also sold E1.66bln of linkers on Thursday (compared to a target of E1.25-1.75bln): E883mln of the 0.10% Mar-26 OATei, E275mln of the 0.10% Mar-36 OATi and E498mln of the 0.10% Jul-47 OATei
  • NET FLOWS: There are no redemptions due this week and coupons total E3.1bln (of which E1.3bln from Germany and E1.2bln from Portugal). With gross nominal issuance of E32.8bln, we estimate nominal net flows of E29.7bln this week (up from E23.4bln last week).
  • For a longer-term calendar of bond issuance, see the MNI Eurozone/UK Bond Issuance calendar.

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