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Issuance for 2021

EU

The EU has announced that is plans to borrow E62.9bln in 2021 under its existing programmes.

  • In total, it plans between its SURE/EFSM programmes to issue E30-35bln in Q1 (SURE) and E25-30bln in Q2 (SURE+EFSM). It also plans issuance of E2.35bln for the MFA.
    • SURE: E50.8bln in H1-2021. "It is expected that the current SURE programmes will be concluded by mid-2021."
    • EFSM: E9.75bln in Q2-2021. Maturity lengthening operations for Portugal and Ireland, rolling over maturing payments of E4.75bln due in June and E5bln due in September.
    • MFA: E2.35bln in 2021. This will fund the disbursement of the E3bln Covid-19 MFA package in addition to "regular" MFA programmes.

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