8 banks previously banned from bond sale now allowed to take part – EU – Reuters

FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium May 5, 2021. REUTERS/Yves Herman/File Photo

BRUSSELS (Reuters) – Eight banks that were previously excluded from syndicated debt sales backing the European Commission’s up to 800-billion-euro ($950.7 billion) COVID-19 recovery fund will be allowed to take part in future issues, the EU executive said on Friday.

“The eight banks have provided information that allow the Commission to conclude that their further exclusion from participation in syndicated transactions in EU bond issuances is not warranted,” the Commission said in an email.

It did not name the banks.

($1 = 0.8415 euros)

Reporting by Foo Yun Chee in Brussels and Yoruk Bahceli in London; Editing by Alison Williams