ESM adds €1 billion to 2024 bond in tap auction

Luxembourg – The European Stability Mechanism (ESM) today conducted a tap auction of a 0.125% 8-year bond maturing on 22 April 2024. An additional €1 billion was issued, bringing the total size of the bond to nearly €5 billion.

“With a strong auction in a challenging market, the ESM completed its funding programme for the year. In 2017, the ESM and EFSF will continue with their euro benchmark funding strategy and again be a major issuer in all parts of the curve,” said Siegfried Ruhl, ESM Head of Funding.

The weighted average price on today’s auction was 100.60% and the average yield was 0.04%. The bid/cover ratio was 3.0. Bids for the auction were transmitted through the Deutsche Bundesbank’s ESM Bidding System (EBS).

Auction results

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