ESM issues 5-year €4 billion bond

Press releases
ESM

Luxembourg – The European Stability Mechanism (ESM) today issued a new €4 billion 5-year benchmark bond with a coupon of 0.1%, maturing on 3 November 2020. This reduces the funding need of the ESM for the remainder of 2015 to €2 billion.

The spread at issuance was fixed at mid swaps minus 12 basis points. This implies a reoffer yield for investors of 0.111%. Bank of America Merrill Lynch, Citi and UniCredit acted as lead managers for the issue. The total book size was in excess of €8.6 billion.

“Today’s 5-year transaction is consistent with our strategy to issue a broad range of maturities, and comes after our recent 3-year, 10-year, and 30-year bonds. Despite the very strong order book, we kept the deal size at €4 billion. This will enable us to tap additional parts of the curve later in the year,” said Siegfried Ruhl, ESM Head of Funding.

 Cédric Crelo

Cédric Crelo
Head of Communications and Chief Spokesperson
 
+352 260 962 205

Anabela Reis

Anabela Reis
Deputy Head of Communications and Deputy Chief Spokesperson
 
+352 260 962 551

George Matlock

George Matlock
Senior Financial Spokesperson
 
+352 260 962 232