NEW: MNI February 2021 Eurozone Issuance Roundup

This is an exclusive preview of MNI's new Issuance product that will be launched in Q2-2021. All feedback is welcome. If you would be interested in signing up to a trial, please contact your account manager or sales@marketnews.com

This document includes country-by-country commentary of issuance in February 2021, a summary of issuance plans for 2021 for each country, auction calendars for the year and schedules of coupon and redemption payments for 2021.

• A total of E117.5bln of EGB and EU issuance took place in February 2021. This is an increase of more than 15% over the E101.6bln cash raised in February 2020.
• Italy (E7.6bln) and the Netherlands (E6.4bln) contributed to the majority of the increase in issuance.
• Smaller increases in issuance in Belgium, Germany, Portugal and Cyprus offset smaller issuance from ESM/EFSF.
• Year-to-date issuance has been E287.3bln up from the E227.4bln in the first two months of 2020 (a 26% increase).
• Italy, the EU, the Netherlands and Germany account for the majority of the YTD increase in borrowing, but every country other than Portugal has seen borrowing rise vs the first two months of 2020.
• See page 2 for links to the MNI policy team's recent interviews with debt officials.
• See pages 2-9 for country-by-country commentary of each country's issuance in February 2021 relative to February 2020 as well as highlights of each country's issuance plans for 2021 as a whole.
• See pages 9-11 for an overview of the 2021 calendar year in comparison to 2020.
• See pages 12-18 for bond and T-bill auction calendars for 2021.
• See pages 19-21 for a schedule of coupons and redemptions by country for 2021.

MNI_EZ_Issuance_Feb2021_Premium.pdf