European Commission plans to cut Russian gas imports by 2027
The European Commission is preparing to propose legal measures next month to phase out the EU's imports of Russian gas and LNG by 2027.
The European Commission has raised €9 billion of EU-Bonds in its 3rd syndicated transaction for 2025.
The single-tranche transaction concerned a new €9 billion EU-Bond maturing on 12 December 2035. The 10-year bond was priced 99.674% with a re-offer yield of 3.413%. Bids received were in excess of €95 billion and this equals oversubscription rate of approximately 10-times.
The proceeds of the transaction will be used to finance EU policy programmes most notably in the context of NextGenerationEU and support to Ukraine.
The Commission has now issued approximately €40.17 billion of its €90 billion bond issuance target for the first half of 2025.
The next transaction in the EU's indicative issuance calendar is an EU-Bill auction on 19 March 2025.
The Commission's funding plan for H1 2025 continues the 2024 issuance programme, during which the EU raised €138 billion in long-term funds.
These wide-ranging borrowing operations will strengthen the EU Bond market while guaranteeing continuous support to policies funded through EU-Bond issuances. Besides long-term funding operations, the Commission will continue issuing short-term EU-Bills to complement its financial operations, the European Commission stated.
2024 marked the highest annual issuance volume ever executed by the EU, in line with the announced planning. Additionally, in 2024, the EU became the fifth largest issuer of green bonds globally with over €68 billion outstanding in NextGenerationEU (NGEU) Green Bonds, and is now on track to become the largest global green bond issuer.
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