The European Union issued EUR 8 billion in their first syndicated transaction of the year

Client successes

The European Union issued EUR 8 billion in their first syndicated transaction of the year on Tuesday 23 January.

The dual tranche transaction raised €3 billion through a 7-year bond due on 4 December 2030 and €5 billion via a 30-year bonddue on 4 March 2053. Investor demand was exceptional with final books closing at a total of EUR 180 billion, EUR 81 billion on the 7-year tap and EUR 99 billion on the 30-year tap.
Following this successful dual-tranche, the EU has now raised EUR 13 billion of its €75 billion funding target for H1 of 2024. 

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This week, we were pleased to support the Commission’s return to the capital markets via its first EUR 8bn syndication of 2024. The highly successful deal attracted a wide range of investors, as demonstrated by the exceptionally high-quality and oversubscribed order book which totalled EUR 180bn from over 900 accounts. CACIB is proud to support the European Union’s objectives for a green and digital recovery of its Member States and third countries.

Lawrence Duquesne-Garner

SSA DCM Origination

The European Union has sent a strong message to markets collecting the largest books in SSA this year for their first syndication. The quality and depth of demand position EU within the small group of large EGB issuers. We were proud and honoured to act as a joint lead manager and duration manager for their first transaction of the year.

Benjamin Moulle

Head of SSA Syndicate

Crédit Agricole CIB’s official institutions team was proud to be once again chosen by the EU as a joint lead manager and a duration manager for their latest and impressively successful issuance. The EUR 180 bn book shows the strong interest of investor for EU, which will be one of the largest European public sector issuers this year with a EUR 75bn funding target for H1 2024.

Emmanuelle Trochu

Global Head of Official Institutions Coverage

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