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Spain is the only issuer yet to...>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: Spain is the only issuer yet to come to market this week.
Total EGB issuance is set to total E12.4bln, compared to E18.7bln last week.
- RECAP: Slovakia was the first to issue this week, selling E0.2bln via taps of
1.625% Jan-31 SLOVGB for E0.11bln and 2.00% Oct-47 SLOVGB for E0.09bln Monday.
The Netherlands issued a new 0.50% Jan-40 Green Bond for E6.0bln on Tuesday. On
Wednesday, Germany re-opened the 0.25% Feb-29 Bund, allotting E2.4bln.
- ISSUANCE:  Spain will conclude issuance for the week on Thursday, looking to
raise between E3.5-4.5bln via taps of the 0.25% Jul-24 Bono, 1.45% Apr-29 Obli
and 1.85% Jul-35 Obli.
- CASH FLOWS: Cash returning to the market this week will be limited to just
E0.37bln in coupons which will leave net cash flows positive to the tune of
E12.0bln.
** For full details, please see MNI Eurozone bond auction calendar, and MNI Cash
Flow Matrix: https://emedia.marketnews.com/CFM200519.pdf

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