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EU SURE social bond listed on LuxSE

27.10.2020 – In the presence of European Commissioner for Budget and Administration Johannes Hahn and Prime Minister of Luxembourg Xavier Bettel, the Luxembourg Stock Exchange (LuxSE) today marked the listing of the first social bond issued under the EU SURE programme. The EU established SURE (Support to mitigate Unemployment Risk in an Emergency) earlier this year to help protect jobs and workers across Europe, which have been heavily impacted by the COVID-19 pandemic. The social bond will be displayed on the Luxembourg Green Exchange (LGX). The EUR 17 billion social bond issuance is the very first social bond issued by the European Commission. It consists of two tranches; a EUR 10 billion tranche with a 10-year maturity and a EUR 7 billion tranche with a 20-year maturity. The bond was 13 times oversubscribed, with demands exceeding EUR 233 billion, which reflects the enormous support from the investor community for a social bond that will safeguard jobs and fight the rising unemployment in European countries stemming from the COVID-19 pandemic and the resulting economic crisis. More: here

Source: EC Press

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