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Slovakia 2023 issuance plans

EUROZONE ISSUANCE
  • ARDAL published its issuance plans for 2023 earlier today. It looks for gross issuance of E8.0bln in 2023 (down from 2022's target of E6.0bln and actual issuance of E5.2bln nominal / E4.7bln in cash terms).
  • It expects to launch 2 new issues via syndication: a new "medium-term" bond with issue size of E3.0bln and a new "medium/long-term" bond with an issue size of E3.0bln or E5.0bln.
  • It expects to raise E4.0bln through syndications "regardless of the number of transactions." (In 2022 there was one transaction of E1.0bln, less than the E2-3bln planned).
  • Auctions are expected monthly, with reserve dates in July, August and December.
  • No bill issuance is expected in 2023.

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