Commentary & Deal Flow

The European Union, rated AAA (Fitch) / Aaa (Moody's) / AA+ (S&P) / AAA (Scope), has mandated BofA Securities, Goldman Sachs Bank Europe SE (DM/B&D), LBBW, Morgan Stanley and Santander as Joint Lead Managers for its upcoming EUR Fixed Rate Reg S Bearer dual tranche transaction, comprising a TAP of the EU 3.125% benchmark Oct-33 (EU000A4EUY43) and a NEW 15-year benchmark due 12-Dec-41. No further group.

An expected benchmark, Reg S Bearer, Senior Unsecured 7yr TAP & 15yr € offering will follow in the near future, subject to market conditions.

• Target Market: Professionals, retail and eligible counterparties (all channels for distribution), each as defined in MIFID II/UK MiFIR
• Stabilisation: FCA/ICMA
• Fees: Lead Managers will be paid a fee in connection to the transaction