Cover Story: Social Bonds

Published: April 26, 2021

The European Union made an unmissable statement in the bond market in October when it printed a €17bn debut social bond, and market experts think that the often, overlooked social part of environmental, social and governance investing is only going to become more important in the wake of the coronavirus pandemic.

The EU printed a €10bn 0% October 2023 and a €7bn 0.1% October 2024 at the end of October to kick off its Covid-19 pandemic fighting Support to mitigate Unemployment Risks in an Emergency (Sure) programme. 

Investors piled into the deal at record levels, pushing demand to an eye popping €233bn, which is the biggest book ever seen for a deal in the history of the European capital markets.

“The Union like everywhere in the world was, and is, facing an unprecedented situation related to the coronavirus pandemic,” said Johannes Hahn, the European Commissioner in charge of budget and administration. 

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