EU Targets $36 Billion Social Bonds This Year After Record Deal
- Biggest ever orderbook at $275 billion whets appetite for more
- Bulk of EU’s issuance due next year if recovery fund agreed
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The European Union smashed global records on its first sale of social bonds this week and it’s not wasting any time in planning to offer more.
The bloc’s sales should total 30 billion euros ($36 billion) this year, just the first salvo in over 900 billion euros of total issuance by 2026, the EU’s Budget Commissioner Johannes Hahn said Wednesday. That followed the “huge success” of a deal racking up the biggest orderbook in history Tuesday, with 233 billion euros chasing its initial social bonds.