EU Hires Banks for Debut Social Bonds Under Pandemic Program
- Bloc to offer 10- and 20-year debt linked to SURE jobs package
- Twin-bond sale seen helping build a yield curve, Nordea says
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The European Union has mandated banks for the sale of its first social bonds, aimed at helping boost employment amid the coronavirus crisis.
It hired Barclays Plc, BNP Paribas SA, Deutsche Bank AG, Nomura and UniCredit SpA as joint lead managers of the offering, according to a person familiar with the matter. The bloc plans to issue 10- and 20-year securities as part of a 100-billion-euro ($118 billion) program to finance a regional job support program known as SURE.