Brussels, Belgium).- The European Comission has issued another 6,000 million euros in European Union bonds on Tuesday in its fourth syndicated operation of 2023 for the Recovery and Resilience Mechanism and the macro-financial assistance program for Ukraine following the Russian attack.
The operation, of a single tranche, has been executed through an extension of the green bond maturing on February 4, 2048.
Investor demand for EU bonds has remained high, with the deal receiving bids totaling more than €72 billion, an oversubscription rate of approximately 12 times.
Brussels plans to finance 30% of its recovery stimulus program following the covid-19 pandemic through the issuance of NextGenerationEU green bonds, which will make it the largest issuer of this type of bond in the world.
With this new operation, the total volume of debt issued in this context to date amounts to 42.5 billion euros, while the total eligible spending for green bonds under the Member States’ recovery plans currently amounts to 187,000 million euros, and this amount is expected to increase as new funding requests continue to be submitted.
With this Tuesday’s operation, the Commission has already raised 39.4 billion euros of its global financing objective of 80 billion euros for the first half of 2023, representing 49% of the total.
Of the €80 billion funding target, some €70 billion will be allocated to the stimulus program NextGenerationEU and regarding 10 billion euros to the macro-financial assistance program for Ukraine.
Ukraine confirms new US economic aid valued at US$ 2.5 billion
Source Europa Press / photo Twitter
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