Investor Presentaiton slide image

Investor Presentaiton

Liquidity covers the budgeted financing needs up to Q3-2020 Annual Funding Plan 2019 • Main financing actions for 2019 have been completed through issuance of three international benchmark bonds with 5-year, 15-year and 30-year maturities. • Complementary financing through Treasury Bills, retail bonds and loans. ⚫ Yields at the local Treasury Bills market have been in negative territory throughout 2017-2019. • Liquidity at year end to cover the financing needs of the first 9 months of 2020. EUR bn Financing needs 2,9 Debt Redemptions 2019 Treasury Bills 0,3 Domestic Bonds 1,1 EMTNS 0,2 Loans 0,7 Prepayments 2020-2021 1,3 Fiscal needs, cash basis -0,7 Financing Sources 2,9 Treasury Bills 0,2 EMTN 2,3 Loans 0,3 Retail bond 0,1 Source: Public Debt Management Office 29 29
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