Belgium Sells Record €22 Billion Retail Bond to Investors (1)

Belgium sold €21.9 billion euros ($23.7 billion) of bonds to households on Monday, Europe’s biggest-ever debt offering targeted exclusively at retail investors, according to data compiled by Bloomberg, as the nation sent a message to banks that have been slow to raise saving rates.

More than 600,000 people poured into one-year note, according to a statement from the Belgian Debt Agency. The 3.3% coupon on the debt compares with an average rate of 3.13% for Belgian deposits of up to one year, European Central Bank data show.

The offering was “intended to stimulate competition” among banks who must “regain the ...