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The Netherlands will issue....>

DUTCH AUCTION PREVIEW
DUTCH AUCTION PREVIEW: The Netherlands will issue its inaugural green bond on
Tuesday - the 0.50% Jan-40 Green Bond - with a target of E4-6bln.
- BACKGROUND: The green bond will finance expenditures and investments related
to the Dutch government's green investment framework. This will include spending
on renewable energy projects and energy efficiency initiatives. The bond will be
issued via Dutch Direct Auction (DDA) and has been certified by the Climate
Bonds Initiatives. The DSTA will aim to price the bond on the auction day and no
later than 12:00 CET on Wednesday 22 May.
- RV/HISTORY: In line with other core EGBs, Dutch bonds have rallied sharply
since the beginning of the year as concerns over the regional economic outlook
have compounded intensifying global trade headwinds. The 20-year yield has
fallen to 0.388% from a high of 0.721% in January, while the 2s20s spread has
narrowed to 94.6bp from 139.6bps at the beginning of the year.
- TIMING: Results are due shortly after the auction closes at 0900BST.

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