MNI EGB Issuance, Redemption and Cash Flow Matrix – W/C 27 Oct

See the full document here for a look ahead to the next two weeks of issuance and recap of this week.

• Belgium, Italy, Germany and Finland will all look to come to the market in the W/C 27 October. There is also the potential for a Slovakian syndication.
• We pencil in issuance of E25.8bln for the week.
• The upcoming week will see sizeable redemptions of E54.5bln: E27.5bln of a formerly 30-year French OAT and E27.0bln of a formerly 10-year Spanish Obli.
• Coupon payments for the week total E17.8bln of which E10.1bln are Spanish, E6.5bln French and E1.1bln Italian.
• This leaves estimated net flows for the week at negative E46.5bln.