The European Commission has today raised €6 billion of EU-Bonds in its 6th syndicated transaction for 2024.
The transaction concerned a new €6 billion bond due on 4 October 2039. The new 15-year bond came at a re-offer yield of 3.477%, equivalent to a price of 98.818%. Bids received were in excess of €37 billion. This equals an oversubscription rate of over 6-times.
The proceeds of the transaction will be used to finance EU policy programmes.
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Today’s bond syndication 15-year line Due on 4 October 2039, this bond carries a coupon of 3.375% and came at a re-offer yield of 3.477%, equivalent to a price of 98.818%. The spread to mid-swap is 52 bps, which is equivalent to 65.2 bps over the Bund due on 4 July 2039 and 2.8 bps through the OAT due on 25 October 2038. The final order book was of over €37 billion. The joint lead managers of this transaction were Barclays, Deutsche Bank, HSBC, JP Morgan and Nordea. |
