'Absolute riot' marks huge demand for EU's first green bond sale of €12bn          

The green bonds will finance member states' environmentally beneficial projects as part of the EU's Covid-19 recovery fund

Green bonds will fund 30% of the EU's up-to €800bn Covid-19 recovery scheme, which gives grants and loans to members states until end-2026.

The EU launched its first ever green bond to record demand, taking its first step to potentially becoming the biggest issuer of environmentally-friendly debt with a record-sized deal.

The 15-year green bond, due for repayment in February 2037, which will raise €12bn, received over €135bn of demand, a lead manager said, making it the largest green bond launch and the highest level of demand for a green bond to date in the government debt market.