The European Commission has raised €8 billion by issuing more EU-Bonds in its 10th syndicated funding operation of 2026.
The borrowing was split equally between a €4 billion “tap” — an additional issue of an existing bond — of a 5-year EU-Bond maturing on 13 October 2031 and a €4 billion tap of a 20-year EU-Bond maturing on 12 October 2046, the Commission informed in a release on Wednesday.
The 5-year bond carries a 2.875% coupon and was issued at a re-offer yield of 3.423%, equivalent to a price of 97.560%. Orders for that tranche exceeded €71 billion.
The 20-year bond carries a 4% coupon and was issued at a re-offer yield of 4.293%, equivalent to a price of 96.124%.
Orders for the longer-dated tranche exceeded €81 billion.
Funding plans and outstanding EU debt
The transaction forms part of the Commission’s €80 billion funding target for the second half of 2026.
The EU’s total outstanding debt now stands at about €874.67 billion, including €53.41 billion in short-term EU-Bills and €86.24 billion in NextGenerationEU Green Bonds.
EU-Bills are short-term debt securities, while green bonds are used to finance eligible environmental spending.
The Commission said it will end its EU-Bond issuance programme for the current semester with a targeted €12 billion raised through two auctions scheduled for 23 November and 7 December, alongside a subsequent non-competitive offer.
BNP Paribas, Commerzbank, Deutsche Bank, JP Morgan and Nomura acted as joint lead managers on the transaction.
