News - 02.11.2020

EUR 17 billion EU SURE social bond listed on Luxembourg Stock Exchange

  • The Financial Centre

Robert Scharfe, CEO of the Luxembourg Stock Exchange, Johannes Hahn, Commissioner for Budget and Administration from the European Commission (EC), and HE Xavier Bettel, Prime Minister of Luxembourg, hosted the Ring-the-bell Ceremony for the new EU SURE social bond.

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The EUR 17 billion social bond is the very first social bond issued by the European Commission and its largest bond issuance to date. Listed on the Luxembourg Green Exchange it is the first of its kind to fall under the Support to mitigate Unemployment Risks in an Emergency (SURE) programme, which was established earlier this year as a response to protect workers and jobs across Europe in the Covid-19 pandemic and the resulting economic fallout.

The bond, which was 13 times oversubscribed with demand exceeding EUR 233 billion, reflects the support from the investor community for a social bond that will safeguard jobs and fight rising unemployment in European countries stemming from the COVID-19 pandemic and the resulting economic crisis.