EZ/UK Bond Supply Calendar: BTP Auction on Friday

Below are the known dates for auctions of European bonds and UK gilts. All times are UK.

See the notes section at the bottom for more colour.

• Cancelled auctions:
  • Germany has cancelled its green auction previously scheduled for November 5.
• Austria plans 3-4 syndication in 2024 (it has held one triple tranche on 18 January and one single tranche on 22 May) and to raise E6.0bln through green issuance (with an 80/20 bond/bill split).
• Belgium has launched its planned 3 new benchmark OLOs for in 2024 via syndications (3 in 2023). 5-year 2.70% Oct-29 OLO (launched on 9 April), 10-year 2.85% Oct-34 OLO (launched on 9 January) and 30-year 3.50% Jun-55 OLO launched on 7 February. Belgium has also sold USD1.25bln of the 30-year 4.875% Jun-55 USD bond and may hold further EMTN transactions if funding conditions remain favourable.
• Finland plans 3 syndications in 2024, 30-year benchmark has already been issued (on 17 January), new 10-year on 23 April) with a third due in Q4 (5-7 / 15+ year). E10bln is expected to be raised at syndications in 2024 with E7bln raised so far.
• France plans to launch the following new issues in 2024: one new 3-year OAT (launched 18 January), one new 5/6-year OAT (launched on 18 April), two new 10-year OATs via auction, new 30-year OAT via syndication (launched 27 February), one new 10-year OATei and under consideration is a 15-20-year OATi. 3.00% Jun-49 Green OAT was launched on 16 January.
• Germany has held three syndications in 2024: The 30-year 2.50% Aug-54 Bund was launched in January and then reopened for a combined E10.5bln. The 1.80% Aug-53 Green Bund was reopened for E3.0bln in June.
• Ireland intends to conduct "at least one" syndication in 2024. It launched a new 10-year IGB on 11 January.
• Italy: New bonds to be issued in Q4 are a 3-year BTP maturing 15 October 2027 (E9bln min), and a 7-year BTP maturing 15 November 2031 (E10bln min). Bonds to be reopened in Q4 are the 3.10% Aug-26 BTP Short Term (ISIN: IT0005607269, E9bln minimum amount already exceeded), the 3-year 3.45% Jul-27 BTP (ISIN: IT0005599904, E9bln min already exceeded), the 5-year 3.00% Oct-29 BTP (ISIN: IT0005611055, E10bln min), the 7-year 3.45% Jul-31 BTP (ISIN: IT0005595803, E10bln min already exceeded), and the 10-year 3.85% Feb-35 BTP (ISIN: IT0005607970, E10bln min).
• Italy has launched two BTP Valores (first launched W/C 27 February and W/C 6 May) and one BTP Italia (on 2 Jul) in 2024 as of now. Possibility of new BTP Futura would be based on market conditions and demand for the instrument.
• Slovakia plans to raise E4.5-5.5bln through syndications in 2024 with 2-3 new issues launched: one 2-year (launched on 5 February, max issue size E1.5bln), one 4- year (launched on 5 February, max issue size E3bln), one 10-year (launched on 27 February; max issue size E5bln).
• The BOE will announce its 2024/25 APF sales target on 19 September (if there are active sales, the Q4-24 schedule will be announced simultaneously).
• The UK plans to hold an index-linked gilt syndication in the second half of November.
• The DMO will hold a consultation with GEMMs and investors to discuss FQ4 (Jan-Mar) issuance on Mon 11 November with the agenda likely published on Monday 4 November.