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Sales are finished with the.......>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: Sales are finished with the week, with Slovakia, the
Netherlands, Germany and France selling E13.4bln of EGBs, vs E18.8bln last week.
- RECAP: Slovakia came to market first, selling E0.1bln of 1.00% Jun-28 SLOVGB
and E0.1bln of 1.625% Jan-31 SLOVGB on Monday. On Tuesday, the Netherlands sold
E1.5bln of re-opened 0.25% Jul-29 DSL. On Wednesday, Germany re-opens 2.50% Bund
Jul-44 for E1bln, allotting E0.8bln. France wrapped up weekly EGB issuance on
Thursday. selling E9.25bln of nominal OATs: 0.00% Feb-22 OAT (E4.2bln), 1.75%
May-23 OAT (E1.3bln), and 0.00% Mar-25 OAT (E3.8bln). Later Thursday, AFT sold
E1.5bln in re-opened linkers: 1.10% Jul-22 OATei (E0.7bln), 0.10% Mar-28 OATi
(E0.6bln), and 0.10% Jul-47 OATei (E0.2bln).
- CASH FLOW: E13.2bln in redemptions and E3.3bln in coupon payments will leave
total cash returning to market at E16.5bln, leaving net cash flow at negative
E3.1bln, versus positive E2.7bln last week.
** For full details, please see MNI Eurozone bond auction calendar
* Cash Flow Matrix: https://emedia.marketnews.com/CFM150419.pdf

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