See pdf file attached.

The 0% EURO 8 billion OLO91 benchmark issue, maturing October 22nd, 2027 for the KINGDOM OF BELGIUM, rated Aa3/AA/AA-, is now priced.

Issue/Reoffer price 100.098, to yield -0.013%, equivalent to 11 bps above mid swaps.

Payment date April 7th, 2020. Short first coupon on October 22nd, 2020. Listing Brussels.

Belgian law. No XD, no NP. FM2 (with prior consultation with the issuer) applies.

Fees total 15 cts.

Reg S Category 1, 144A eligible,  CAC,  FCA / ICMA Stabilisation.

Joint leads and books : Barclays, BNP Paribas Fortis, Crédit Agricole CIB, HSBC and Morgan Stanley.

Co-lead group: Citi, J.P. Morgan, KBC, NatWest Markets, Nomura and Société Générale.

The Minister of Finance, Alexander De Croo, announces :

The Kingdom of Belgium intends to issue a new syndicated EURO benchmark bond maturing October 22nd, 2027 (OLO 91) in the near future, subject to market conditions.

The Kingdom has mandated Barclays, BNP Paribas Fortis, Crédit Agricole CIB, HSBC and Morgan Stanley as joint bookrunners.

All other Primary Dealers will be invited to the syndicate group.

In response to the anticipated increase in funding needs caused by the Covid-19 crisis, the Belgian Debt Agency took a number of decisions related to both its long- and short-term funding in 2020.

First of all, it intends to issue a new syndicated medium term benchmark bond. This will be the third benchmark of 2020, following the successful launch of a new 10-year (OLO89) and 20-year (OLO90) benchmark earlier this year.

Secondly, the Debt Agency increases the number of OLO auctions by also organizing auctions on the penultimate Monday of May, August and October. Optional Reverse Inquiry auctions continue to be possible in these months.

Third, as of today, the Belgian Debt Agency stops buying back OLOs maturing in 2022.

Finally, the Debt Agency will increase the targeted issuance in the Treasury Certificate auctions, and it will issue the medium-term Treasury Certificate line in those auctions for which currently only one line would be auctioned.

The Agency intends to publish the updated 2020 financing requirements and funding plan as soon as possible, once the revised budgetary estimates for 2020 will be established.

The Belgian Debt Agency informs you that it has accepted bids for a total amount of EUR  2.982 billion, distributed into the following lines :

- OLO 0.50 % 22/10/2024 (OLO82)
ISIN code : BE0000342510
Amount taken (EUR billion): 0.711
Weighted average yield : -0.235 %
Bid-to-cover ratio : 1.460

- OLO 0.10 % 22/06/2030 (OLO89)
ISIN code : BE0000349580
Amount taken (EUR billion): 1.764
Weighted average yield : 0.128 %
Bid-to-cover ratio : 1.330

- OLO 1.70 % 22/06/2050 (OLO88)
ISIN code : BE0000348574
Amount taken (EUR billion): 0.507
Weighted average yield : 0.706 %
Bid-to-cover ratio : 1.960

See our Refinitiv page BELG/OLO or Bloomberg page BEDA - OLO Auctions - Results.

The Belgian Debt Agency informs you that the range for the upcoming auction on Monday, 23 March 2020, has been determined at EUR 1.5/3.0 billion.

3 OLO lines will be auctioned :

1. OLO 0.50% 22/10/2024 ISIN BE0000342510 (OLO 82)
2. OLO 0.10% 22/06/2030 ISIN BE0000349580 (OLO 89)
3. OLO 1.70% 22/06/2050 ISIN BE0000348574 (OLO 88)

The Belgian Debt Agency informs you that the following 3 OLO lines will be auctioned on Monday, 23 March 2020 :

1.
Description : OLO 0.50% 22/10/2024
ISIN code : BE0000342510
OLO number : OLO 82
Outstanding : EUR 10.810.000.000.00

2.
Description : OLO 0.10% 22/06/2030
ISIN code : BE0000349580
OLO number : OLO 89
Outstanding : EUR 6.000.000.000.00

3.
Description : OLO 1.70% 22/06/2050
ISIN code : BE0000348574
OLO number : OLO 88
Outstanding : EUR 6.069.000.000.00

Payment date will be 25/03/2020. On Friday 20 March in the morning, the Belgian Debt Agency will announce the range of the amount to be auctioned.

The Belgian Federal Government Debt amounted to EUR 404.47 billion as of 29 February 2020.

 Debt issued or taken over by the federal government amounted to EUR 404.26 billion, and the institutions for which the federal government supports the debt service, registered a debt of EUR 0.21 billion.

 In net terms (i.e. deducting financial deposits and investments, as well as securities owned by the Treasury), the Federal Government Debt amounted to EUR 390.66 billion.

The Belgian Debt Agency informs you that it has accepted bids of Treasury certificates for a total amount of EUR 2.925 billion, distributed into the following lines : 

ISIN Code : BE0312771430 - 09/07/2020
Amount taken (EUR billion): 1.110
Weighted average yield : -0.661 %
Bid-to-cover ratio : 1.66

ISIN Code : BE0312775472 - 11/03/2021
Amount taken (EUR billion): 1.815
Weighted average yield : -0.693 %
Bid-to-cover ratio : 1.09

See our Refinitiv page BELG/TC or Bloomberg page BELG - TC Auctions - Results.