The European Commission raised €6.273 billion in an EU-Bonds auction on Monday by selling three lines of long-term debt.
The sale covered bonds maturing in October 2031, December 2036 and December 2040, with coupon rates of 2.875%, 3.250% and 3.625% respectively, the Commission informed in a release.
Investors submitted bids totalling €8.194 billion across the three bonds, compared with the €6.273 billion allotted.
The 2031 bond attracted €2.655 billion of bids and €2.183 billion was allocated, while the 2036 bond drew €3.473 billion of bids with €2.302 billion allotted.
The 2040 bond received €2.066 billion of bids and €1.788 billion was allocated.
Yields and demand
The weighted average yields — a measure of the return investors receive based on the auction price — were 3.246% for the 2031 bond, 3.689% for the 2036 bond and 4.013% for the 2040 bond, the Commission said.
The cover ratio, which compares total bids with the amount sold, was 1.22 for the 2031 bond, 1.51 for the 2036 bond and 1.16 for the 2040 bond.
Settlement — when cash and securities change hands — is scheduled for 2 September for the competitive auction.
No non-competitive allocation was reported for any of the three bonds.
