ESM adds €1 billion to 2025 bond in tap auction

Luxembourg – The European Stability Mechanism (ESM) today conducted a tap auction of a €3 billion 1% 10-year bond maturing on 23 September 2025. An additional €999.85 million was issued, bringing the total size of the existing bond to nearly €4 billion.

“We continue with our strategy of supporting liquidity in outstanding bonds and increasing their amount over time. Today’s tap auction showed very strong investor demand and allowed us to complete the ESM’s funding needs for the third quarter of 2016,” said Siegfried Ruhl, ESM Head of Funding.

The weighted average price was 109.55% and the average yield was -0.06%. The bid/cover ratio was 2.9. Bids for the auction were transmitted through the Deutsche Bundesbank’s ESM Bidding System (EBS).

Deutsche Bundesbank Press Release