EU Braves Summer Lull for Third Bond Sale to Fund Recovery
- Bloc sells 10 billion euros of 20-year debt as part of program
- Demand above 81 billion euros, well short of record last year
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The European Union is returning to bond markets with a third sale under its NextGenerationEU program just in time for the summer lull.
The EU’s offering of 10 billion euros ($11.9 billion) of 20-year debt -- part of a program to help member states recover from the pandemic -- drew demand of more than 81 billion euros. That compares with a record 145 billion euros for a social bond sold last year.