- The EU plans a tap of its EUR 2.5% 2052 via Barclays, BNPP, Citi, LBBW and NatWest. The bond was last tapped in December 2022 for €500m at swaps +66bps, at which time bank treasuries took down 36% while banks accounted for 12%. Expected to launch on July 11.
- Greece is preparing a new EUR 15y benchmark due Jul 2038 alongside a switch and tender offer for two GGBs, the €2.5bn 3.45% 2024 and the €3bn 3.375% 2025. Leads are BNPP, BofA, DB, GS, JPM and NBG.
- Aareal Bank plans a €500m short 3y Covered bond. Leads are Commerz, Danske, DZ, LBBW, UBS and UniCredit.