By Laura Contemori – ROME (Econostream) – The European Commission, on behalf of the European Union, on Monday raised €6.462 billion through an auction of EU-Bonds across three maturities.

The Commission allotted €2.873 billion of the 2.375% July 2029 EU-Bond at a weighted average yield of 2.935%, with bids totaling €3.189 billion and a cover ratio of 1.11. The weighted average price was 98.342%.

It also sold €2.369 billion of the 0.400% February 2037 EU-Bond at a weighted average yield of 3.608%. Total bids amounted to €2.565 billion, implying a cover ratio of 1.08. The weighted average price was 71.905%.

In the longest tranche, the Commission allotted €1.220 billion of the 0.700% July 2051 EU-Bond at a weighted average yield of 4.173%, drawing €1.571 billion in bids for a cover ratio of 1.29. The weighted average price was 46.568%.

Settlement of the competitive auction will take place on May 20 and settlement of the non-competitive auction will take place on May 21.