EU Starts $1 Trillion Debt Plan That Will ‘Transform’ Europe
- EU debuts 10-year bonds, which will finance loans to members
- Bloc to conduct three syndicated sales before August
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The European Union is testing investors’ appetite to fund nearly $1 trillion of debt over five years as it seeks to finance its recovery from the coronavirus pandemic.
The bloc opened books on debut 10-year bonds as part of its NextGenerationEU (NGEU) program, which will finance grants and loans to member states. European Central Bank President Christine Lagarde said in an interview published Monday the NGEU stimulus will “transform the future of Europe.”