European Commission: first operation to raise €20 billion to support European recovery

On the 15th of June, the European Commission, in its first operation under NextGenerationEU, raised €20
billion through a 10-year bond ending on 4 July 2031 to finance Europe’s recovery from the coronavirus
crisis and its aftermath. This is the largest institutional bond issued in Europe, the largest single-tranche
institutional transaction ever and the largest amount raised by the EU in a single transaction.
The funds will now be used for the first payments of the NextGenerationEU programme, the Recovery and
Resilience plan and various other programmes financed by the EU. By the end of 2021, the Commission
expects to raise around €80 billion in bonds, to be supplemented by short-term EU bonds, as set out in the
financing plan published in June 2021.
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