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"Profit v planet: working with CFOs on the way to net zero"
The European Stability Mechanism (ESM) raised €2 billion with a new 3-year bond on Monday, for the first time completing its 2024 long-term funding programme before the fourth quarter.
The 2.375% 30 September 2027 maturity bond achieved an order book in excess of €6.6 billion, including €400 million joint-lead manager interest. The spread was fixed at mid-swaps plus 8 basis points, for a re-offer yield of 2.392%.
(Luxembourg) - The European Stability Mechanism (ESM) raised €2 billion with a new 3-year bond on Monday, for the first time completing its 2024 long-term funding programme before the fourth quarter.
The 2.375% 30 September 2027 maturity bond achieved an order book in excess of €6.6 billion, including €400 million joint-lead manager interest. The spread was fixed at mid-swaps plus 8 basis points, for a re-offer yield of 2.392%.
Today ESM, the European Stability Mechanism, rated Aaa (Moody’s) / AAA (Fitch) / AAA (S&P), has sent a Request for Proposal to a selection of banks from the EFSF/ESM Market Group with regards to an upcoming transaction, subject to market conditions.
The result of the auction of 17 September for the 6-month Bills of the ESM was as follows:
Total Bids: € 2,698.00 mn
Competitive bids € 829.00 mn
Non-competitive bids € 1,869.00 mn
Allotment / Issue volume € 1,099.32 mn
Press conference following Eurogroup meeting
Budapest, 13 September 2024
Today in my intervention on the macroeconomic situation, I focused on the market volatility during the summer months, which showcased the uncertainty surrounding the economic outlook and showed that we need to be vigilant in these times of a timid recovery in Europe. Let me focus on two volatility events that occurred over the last three months, where we had two spikes on financial markets.