Few deals in the history of the debt capital markets have been as keenly awaited as this week’s €17 billion debut offering by the EU to fund the support to mitigate unemployment risk in an emergency (Sure) programme.
Split into €10 billion 10-year and €7 billion 20-year tranches, the deal attracted the largest order book in the history of the capital markets at €233 billion.
Investors had been setting aside cash to invest in it for weeks.
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