Intesa Sanpaolo acted as Joint Lead Manager & Bookrunner in the €20bn Debut NGEU

On 15 June 2021 the European Union successfully issued its inaugural €20bn 10-year benchmark Bond due 4 July 2031, under the NGEU Programme.

Intesa Sanpaolo, through its  IMI Corporate & Investment Banking Division, acted as Joint Lead Manager & Bookrunner, being the only Italian bank in this landmark transaction.

This is the largest-ever institutional bond issuance in Europe, but also the largest-ever institutional single tranche transaction and the largest amount the EU has raised in a single transaction. The bond has attracted a very strong interest by investors across Europe and the world, and with a total requested amount of above €142 bn.

According to the European Commission President Ursula von der Leyen, “Today is a truly historic day for our European Union” while Commissioner in charge of Budget and Administration, Johannes Hahn, has defined this first transaction as a “key milestone in implementing NextGenerationEU”.

The NextGenerationEU is a temporary recovery instrument of  Eur 800bn (in current price) designed to support reforms and investments undertaken by European countries. It is part of the largest stimulus package ever financed in Europe provided by the EU in response to the Covid-19 crisis.