EU’s $100 Billion Social Debt Orders Show Immunity to Bond Rout
- Orderbook for 15-year sale grows even after bloc cut pricing
- Italy’s green debut also bucked recent trend of weak sales
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The European Union’s latest offering of social bonds proved immune to the sudden dropoff in demand that has gripped global debt markets.
The bloc pulled in over 86 billion euros ($102 billion) of orders for a 9 billion-euro sale of 15-year debt via banks Tuesday, to help fund a regional jobs program. The bumper orderbook grew even after the EU cut its pricing, showing investors are still piling into ethical debt.