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Third trench of SURE bonds by the Commission issued to EU Member States

The European Commission has on 25 November issued a €8.5 billion social bond under the EU SURE instrument to help protect jobs and keep people in work.

It consisted of a single tranche of "Social Bonds" due for repayment in November 2035. There was very strong investor interest in this highly rated instrument, and the bond was over 13 times oversubscribed, the Commission reported. The bond was priced at a negative yield of -0.102 %, which means that for every €102 that Member States get, they pay back €100. The known large international bank groups supported the action.

The Commission will proceed with further issuances under the EU SURE programme in 2021, up to the maximum available ceiling of €100 billion. The institution has so far proposed to make €90.3 billion in financial support available to 18 Member States.

For background on the EU Social Bonds, please visit here.



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