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Spain 2022 funding plans

EUROZONE ISSUANCE
  • Total net funding needs for 2022 are E75bln (in line with the E75.138bln in 2021, although 2021 had an initial target of E100bln).
  • Total gross issuance E237.498bln (E264.312bln in 2021).
  • Net medium/long-term funding needs of E80bln (from E74.487bln in 2021). Redemptions will account for an additional E68.088bln (E94.399bln in 2021).
  • Gross issuance of medium/long-term funding needs stands at E148.088bln (down from E169.886bln in 2021)..
  • The stock of letras in 2022 is expected to reduce by E5.0bln. In 2021, it stayed broadly steady after the original plan had been to increase the stock by up to E10bln.
  • Bond auctions to be held on the first and third Thursday of each month, with one linker in the first auction of the month.
  • Green bond to be reopened and continued to be reopened in coming years until benchmark size.
  • Syndications to continue to be used to launch 10+ year Oblis, with the first scheduled for tomorrow.

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