April 28, 2022 15:49 GMT
The EU announces an RfP for further funding needs under the NGEU programme. To be executed "in the near future".
- A syndication had been scheduled for the week beginning May 9.
- Per our Eurozone Deep Dive: "We don’t really have strong convictions on the bonds that will be sold at syndication. However, we do note thatthe EU chose to issue a new green bond when there was E14.5bln outstanding of the inaugural 0.40% Feb-37green bond. There is currently a similar E14.0bln outstanding of both the 0% Jul-26 and the 0% Oct-28 NGEUissues, so we do question whether the EU will continue to build these issues up to closer to E20bln or whethernew 5-year and 7-year benchmarks will be launched."