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EU SURE Dual-Tranche Mandate

EGB SYNDICATION

EU has mandated banks for a syndicated dual-tranche of issuance: new long 8yr and new long 25yr.

  • JLMs: Deutsche Bank, LBBW, Morgan Stanley, Natixis and NatWest Markets
  • 8yr benchmark due 4 July 2029
  • New long 25yr benchmark due 4 January 2047
  • "The transaction will be launched in the near future, subject to market conditions." - Market Source
This is in line with MNI's expectations of a mandate to be released today with transaction Tuesday. In its latest investor presentation, the EU noted that it intended to issue a total E13-15bln more for the SURE programme and that funding would be complete by mid-2021.

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