MNI BRIEF: EC New Instrument Borrowing Seen In Curve Long-End

European Commission issuance for its new instrument designed to facilitate defence investment will likely be of longer-dated bonds, an official said Tuesday 

The EC will borrow "up to" EUR150 billion on capital markets to finance the new tool, officials said, largely in "quite long maturities."

"We do expect a significant number of member states will be interested in taking up these loans," the same official said, noting that around 20-plus EU states currently have higher borrowing rates than the EC.