Belgian Debt Agency

The Belgian Debt Agency has modified its 2020 funding plan in order to take account of the Kingdom’s increased funding needs resulting from the Covid-19 crisis. On April 8, 2020, the Economic Risk Management Group published its scenario consisting of a recession of 8.0%[1] in 2020 and a 2020 ESA government deficit of 7.5%. Federal government net borrowing would then amount to EUR 31.41 billion in 2020, representing an increase of EUR 21.81 billion compared to the original funding plan.

 

A...

The Belgian Debt Agency informs you that the following 3 OLO lines will be auctioned on Monday, 20 April 2020 :

1.
Description : OLO 0.90% 22/06/2029
ISIN code : BE0000347568
OLO number : OLO 87
Outstanding : EUR 13.807.000.000.00

2.
Description : OLO 1.25% 22/04/2033
ISIN code : BE0000346552
OLO number : OLO 86
Outstanding : EUR 6.886.000.000.00

3.
Description : OLO 2.15% 22/06/2066
ISIN code : BE0000340498
OLO number : OLO 80
Outstanding : EUR 5.564.000.000.00

Payment...

The Belgian Debt Agency informs you that it has accepted bids of Treasury certificates for a total amount of EUR 2.745 billion, distributed into the following lines :

 

ISIN Code : BE0312771430 - 09/07/2020

Amount taken (EUR billion): 1.360

Weighted average yield : -0.414 %

Bid-to-cover ratio : 1.18

 

ISIN Code : BE0312775472 - 11/03/2021

Amount taken (EUR billion): 1.385

Weighted average yield : -0.421 %

Bid-to-cover ratio : 1.29

 

See our Reuters page BELG...

The Belgian Debt Agency informs you that it has accepted bids of Treasury certificates for a total amount of EUR 2.280 billion, distributed into the following lines :

ISIN Code : BE0312771430 - 09/07/2020
Amount taken (EUR billion): 1.190
Weighted average yield : -0.459 %
Bid-to-cover ratio : 1.44

ISIN Code : BE0312773451 - 12/11/2020
Amount taken (EUR billion): 1.090
Weighted average yield : -0.466 %
Bid-to-cover ratio : 1.75


See our Reuters page BELG/TC or Bloomberg page BELG...

The Belgian Federal Government Debt amounted to EUR 414.66 billion as of 31 March 2020.

Debt issued or taken over by the federal government amounted to EUR 414.45 billion, and the institutions for which the federal government supports the debt service, registered a debt of EUR 0.21 billion.

In net terms (i.e. deducting financial deposits and investments, as well as securities owned by the Treasury), the Federal Government Debt amounted to EUR 399.07 billion.

See pdf file attached.

The 0% EURO 8 billion OLO91 benchmark issue, maturing October 22nd, 2027 for the KINGDOM OF BELGIUM, rated Aa3/AA/AA-, is now priced.

Issue/Reoffer price 100.098, to yield -0.013%, equivalent to 11 bps above mid swaps.

Payment date April 7th, 2020. Short first coupon on October 22nd, 2020. Listing Brussels.

Belgian law. No XD, no NP. FM2 (with prior consultation with the issuer) applies.

Fees total 15 cts.

Reg S Category 1, 144A eligible,  CAC,  FCA / ICMA Stabilisation.

Joint...

The Minister of Finance, Alexander De Croo, announces :

The Kingdom of Belgium intends to issue a new syndicated EURO benchmark bond maturing October 22nd, 2027 (OLO 91) in the near future, subject to market conditions.

The Kingdom has mandated Barclays, BNP Paribas Fortis, Crédit Agricole CIB, HSBC and Morgan Stanley as joint bookrunners.

All other Primary Dealers will be invited to the syndicate group.

In response to the anticipated increase in funding needs caused by the Covid-19 crisis, the Belgian Debt Agency took a number of decisions related to both its long- and short-term funding in 2020.

First of all, it intends to issue a new syndicated medium term benchmark bond. This will be the third benchmark of 2020, following the successful launch of a new 10-year (OLO89) and 20-year (OLO90) benchmark earlier this year.

Secondly, the Debt Agency increases the number of OLO auctions by also...