Treasury scales up Belgium’s gross financing requirements

The Treasury has revised gross financial requirements for the Belgian state upwards, from 39.9 to 40.38 billion euros, revealed the Debt agency in a press release on Tuesday. “The gross financial requirements of 39.9 billion which the Treasury had estimated in its 2015 financial plan have been confirmed and should now reach 40.38 billion euros. Both the net financing requirement and loans reimbursement in 2015, as well as 2016 pre-financing, only marginally vary from original predictions,” adds the Agency.

At the same time, the Treasury is still determined to issue 32.5 million euros in OLOs (linear bonds), 18.85 million of which have already been issued, adds the Debt Agency, saying the total will be collected in 5 remaining parts or via the syndication of a new OLO potentially issued instead of a tender.

As for the goal of issuing 3 billion euros via Euro-Medium Term Notes and other alternative funding mechanisms, it has already been reached, which led the Treasury to upping its objective to 5 billion euros.

Finally, short term debt “should increase less than originally thought” whilst the value of Treasury certificates circulating should increase by 1 billion euros annually, concludes the Debt Agency.

(Source: Belga)  

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