EZ/UK Bond Supply Calendar: Italy Auction, Finland ORI Thurs

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.

• Finland: The next quarterly funding update is scheduled for 20 December (we assume this will accompany their 2025 issuance target).
• Italy: New bonds issued in Q4: 3-year 2.70% Oct-27 BTP (E9bln min, launched 13 November) and 7-year 3.15% Nov-31 BTP (E10bln min, launched via syndication on 22 October). 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 already exceeded).
• Netherlands: The DSTA will release its 2025 outlook on Friday 13 December.
• The BOE will announce its Q1-25 APF sales schedule on 20 December at 16:30GMT.
• The UK plans to hold a 10-year gilt syndication in February and to launch a new 20-25 year linker via syndication in March.
• The DMO will hold a consultation with GEMMs and investors to discuss FQ1-25 (Apr-Jun) issuance on Monday 17 March with the agenda likely published on Monday 10 March (subject to the Spring Budgetary statement).