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Klaus Regling, ESM Managing Director
“The monetary union - stable despite crises”
17th International Real Estate Business School Symposium of Regensburg University
Online, 8 October 2021

(Please check against delivery)

Luxembourg – The Board of Governors of the European Stability Mechanism (ESM) has appointed Akis Kikas and Jochen Wenz to the ESM Board of Auditors, for a non-renewable three-year term starting today. Mr Kikas was appointed upon proposal by the Cypriot Supreme Audit Institution and Mr Wenz was appointed upon the proposal of the Chairperson of the Board of Governors – Paschal Donohoe.

(Luxembourg) - The European Stability Mechanism (ESM) raised €2 billion on Monday, completing its 2021 funding needs, with a no-grow tap sale of a 2024 maturity bond. The bond attracted the highest order book in nearly eight years for the ESM and was a record size for three-year paper from the supranational.

The ESM issued €2 billion of the reopened 0% bond maturing on 16 December 2024. The spread was fixed at mid-swaps minus 13 basis points, for a reoffer yield of -0.473%. The new outstanding size of this bond is €4 billion.

The European Stability Mechanism (ESM) will launch 3-months Bills of the European Stability Mechanism (ESM) by auction. An issue volume up to EUR 1.5 billion is envisaged.

Time schedule of the auction procedure:
Date of invitation to bid: Monday, 4 October 2021
Bidding period: Tuesday, 5 October 2021, from 8:00 a.m. until 12:30 p.m. CET
Value date: Thursday, 7 October 2021