EU raises over 12 bln euros in debt sale as market watches for potential new borrowing –


An Austrian central bank official takes new 200 euro banknotes in Vienna, Austria, September 17, 2018. REUTERS/Heinz-Peter Bader

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March 22 (Reuters) – The European Union raised over 12 billion euros ($13.24 billion) in a debt sale on Tuesday, as investors wait to see if the bloc will unveil a new joint borrowing plan to tackle member states’ funding needs following the invasion of Ukraine.

The bloc drew over 59 billion euros in demand for a new 10-year bond backing its coronavirus recovery fund, which raised 10 billion euros, the European Commission said in a statement.

Though that is the lowest level of outright demand the EU has seen since it launched debt sales backing its recovery fund last summer, the bloc increased the size of the issue from an initial 8 billion euros announced earlier on Tuesday in a memo seen by Reuters.

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The EU also received 35 billion euros in demand for a 15-year bond backing its SURE unemployment scheme – the first jointly financed fund it launched early on in the pandemic – which raised 2.17 billion euros, the Commission said.

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