Due on 6 July 2051, the 30-year bond – executed as an increase to an existing EU-Bond - brings the total financing raised under the programme to €78.5 billion. The Commission's successful placement will help sustain the momentum behind Europe's recovery from the COVID-19 pandemic. The bond was nearly 13 times oversubscribed, achieving a total order book of €64.1 billion. This strong demand enabled the Commission to place the bond under very good pricing conditions in a sign of strong investor confidence in the NextGenerationEU programme. The Commission complemented this issuance with a further €2.2 billion, 5-year bond issuance to fund back-to-back loans to Portugal under the European Financial Stability Mechanism (EFSM).