30 JUNE 2025ESDM Issuance Calendar Q3 2025 National Issuance Information AustriaBondsBillsBelgiumBondsBillsBulgariaBonds & BillsCroatiaBonds & BillsCyprusBonds & BillsMore informationCzechiaBondsBillsDenmarkIssuance of bonds takes place via regular auctions supplemented with tap sales. Dates for the next three months' planned auctions are announced at the start of each month. The government bonds to be auctioned will be announced no later than three trading days prior to each auction.Monthly auctions will be held over T-bills with the first banking day of the month as the settlement date.Bonds & BillsEstoniaEstonia has no regular issuance calendar.More informationFinlandBonds & BillsFranceBonds & BillsGermanyBonds & BillsGreeceBonds & BillsHungaryBonds & BillsIrelandBonds & BillsItalyBonds & BillsThis calendar is completed by quarterly programsLatviaBonds & BillsLithuaniaBonds & BillsLuxembourgThere is no bill issuance in Luxembourg. Long term bonds are issued by bank syndicate on an irregular basis.Dette de l'Administration centraleMaltaTreasury Bills Auctions are typically held every Tuesday and successful bids are settled on the following Thursday on a T+2 settlement cycle. When the auction date, or the settlement date, or any day in between the auction date and the settlement date falls on a non-business day, the auction takes place on the first business day of the same week and settled on a T+2 basis.BondsNetherlandsShortly before the start of a new quarter, the Dutch State Treasury Agency (DSTA) announces the issuance calendar for the new quarter. The press release states the bonds and bills that will be issued, the dates of issuance and, for bonds, it contains an indication of the target amounts to be raised. In December the DSTA announces its overall funding plan for the coming year, which is updated in January and on a quarterly basis.Bonds & BillsPolandBonds & BillsPortugalBondsBillsRomaniaTreasury and Public Debt (Ministry of Public Finance)Bonds & BillsSlovakiaBonds & BillsSloveniaBonds are not auctioned.BillsSpainBillsBondsGeneral rules, subject to exceptions (holidays, etc):Bonds are issued monthly: on the first and on the third Thursday of each month, with the exeption of January when bonds are issued on the second Thursday. The references are announced on the Friday preceding the auction date.Letras Del Tesoro (T-bills) are issued on the second Tuesday of each month with 3- and 6-month maturities and on the third Tuesday for the 12-month tenor.SwedenBonds & Bills European Stability Mechanism
