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The Belgian Debt Agency has released its funding plan for 2021

BELGIUM
  • Gross borrowing requirement E43.61bln (2020: E51.46bln).
  • Net financing requirement is E22.77bln. Redemptions E15.51bln plus E4.50bln of buybacks of 2022 debt.
  • E36.41bln of OLOs to be issued (E44.50bln in 2020).
  • Up to 3 new benchmark OLOs to be launched. The first will be a new 10-year benchmark. The second a very long OLO (no longer than 2071) via syndication.
  • 2 syndications in total.
  • 8 OLO auctions
  • 5 ORI operations up to E500mln each.
  • E3.00bln of EMTN/Schuldscheine funding.
  • E4.20bln of EU SURE funding expected to be received.
  • TC stock expected to remain steady at E30.50bln.

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