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EU to Raise 6B Euros from 20-Y Green Bond, say Lead Managers

April 5 (Reuters) - The European Union will raise 6 billion euros ($6.6 billion) from the sale of a new, 20-year green bond on Tuesday, memos from two lead managers seen by Reuters showed.

The green bond will fund member states' environmentally friendly projects that are part of the bloc's COVID-19 recovery fund.

The bond, due on Feb. 4, 2043, has seen over 57 billion euros of investor demand and will pay a spread of 9 basis points over the mid-swap level, the lead managers said, down from around 11 basis points when the sale started.

It will be the EU's second green bond following a debut issue last October that saw record demand and raised a record amount. 

The EU hired BofA, Citi, Credit Agricole, Danske Bank and JPMorgan for the sale, the memos said.

($1 = 0.9106 euros)

Reporting by Yoruk Bahceli; editing by Sujata Rao and Barbara Lewis

Source: Reuters

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