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ESM taps 2-year bond via auction

Press releases

Luxembourg – The European Stability Mechanism (ESM) today conducted a tap auction of a €4 billion 2-year bond maturing on 28 October 2016. An additional €987.5 million was issued, bringing the total size of the existing bond to €4.9875 billion.

The weighted average price was 99.98% and the average yield was 0.01%. The bid/cover ratio was 3.1. Bids for the auction were transmitted through the Deutsche Bundesbank’s ESM Bidding System (EBS).

Christophe Frankel, CFO and Deputy Managing Director said: "Today’s transaction re-opened an existing ESM benchmark €4 billion bond via auction that was issued less than two months ago, the second ever tap by the ESM. Following the good performance after the initial issuance, we decided to increase the bond by nearly another €1 billion to satisfy the strong demand investors had shown and to further optimise our redemption profile. Today’s orders came to over €3 billion from investors worldwide. This transaction is the last one of 2014 for the ESM, in line with our guidelines to the market.”


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

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

George Matlock
Senior Financial Spokesperson
+352 260 962 232

Juliana Dahl
Principal Speechwriter and Principal Spokesperson
+352 260 962 654