EC Places Bonds Worth €5B
The European Commission placed bonds worth €5 billion on Wednesday. A portion of the money received will be used to assist Ukraine.
The European Commission raised €5 billion in its first syndicated deal for 2023, according to the statement.
There were issued thirty-year bonds that were oversubscribed by more than ten times (bids exceeded €51 billion).
The agreement represented the first « syndication » under the new strategy adopted by the European Commission for funding EU common activities. Instead of issuing several bonds to support various programs, the EC uses a single bond on behalf of the EU to finance various initiatives.
According to the press release, the money obtained would be used, among other things, to pay a new macrofinancial assistance package for Ukraine that could cost up to €18 billion in 2023.