The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Deals of the Year 2011: European Union

European Union
Size €4 billion benchmark notes due 2026
Date September 2011
Lead managers Barclays Capital, Crédit Agricole, DZ Bank, Goldman Sachs, JPMorgan
Coupon 3% over OAT 3.5% April 26
return to the Global Deals of the Year index

These commodity- and energy-sector transactions exude a confidence that could not be further removed from the relentless pessimism of the European debt markets – last year’s reluctant lead story in the capital markets. The eurozone debt crisis dominated everything in the second half of the year and when the European Union decided to tap the market for €4 billion in September some in the market doubted that a 15-year deal could get done. "We had not seen a long-end syndicated euro deal in the sector since June 2010 and there was uncertainty about volume of appetite at the long end given the surrounding volatility," says Lee Cumbes, managing director at Barclays Capital in London. "This was not the sort of deal that you could just put a price out and go."

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree