The agency said it would retain €500 million of the issue to maintain a liquid secondary market. Later issues may raise the final volume to between €10 billion and €15 billion and will be sold either via syndication or auction.
The agency said it wanted to create a liquid market in linkers by issuing bonds with "benchmark maturities". Linkers could become "part of the regular auction process", the agency added.
The week on Risk.net, December 2–8, 2016Receive this by email