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Spain and France both come to.....>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: Spain and France both come to the Eurozone sovereign bond
issuance market Thursday. Overall issuance is expected to be E21.5bn this week.
- ISSUANCE: Spain will be up first with taps of the 0.05% Jan-21 Bono, 0.35%
Jul-23 Bono, 1.40% Jul-28 Obli for an indicative amount of between E3.5-E4.5bln
and tap 1.00% Nov-30 Bonoei for between E250-E750mln. France then tap 5.50%
Apr-29 OAT, 1.50% May-31 OAT and 1.25% May-36 OAT for between E5.5-E6.5bln on
Thursday.
- RECAP: On Monday Italy tapped 0.95% Mar-23 BTP for E2bln, launched new 10-yr
2.80% Dec-28 BTP for E4bln and tapped Sep-25 CCTeu for E1.5bln. On Wednesday
German tapped 10-yr 0.25% Aug-28 Bund for E3.0bln.
- CASH FLOWS: There are redemptions of E44.79bn this week and E11.03bn of coupon
payments, with net cash flows of -E34.3bn.

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