EU’s Latest Bond Sale Racks Up Another $100 Billion Orderbook
- EU is seeking to raise up to 9 billion euros from the offering
- Demand slightly lower than seen for 5-year sale in June
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The European Union returned to the bond market on Tuesday for a seven-year debt sale, pulling in another huge orderbook.
The nation racked up more than 85 billion euros ($100 billion) of orders for a 9 billion-euro offering of bonds maturing in 2028 via banks, with pricing set at 14 basis points below swaps. Analysts had expected a rush of orders from investors because the bonds are relatively scarce and the central bank is able to buy up to 50% of the EU’s issuance, providing a guaranteed backstop.