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8th Joint Regional Financing Arrangements Research Seminar (swoogo.com)
Thursday, 16 May 2024
The European Stability Mechanism (ESM) issued €2 billion of a new 5-year bond on Monday, completing one-third of its 2024 long-term funding programme of €6 billion.
The 2.625%, 18 September 2029 maturity bond achieved a strong order book in excess of €10.5 billion, excluding joint lead manager interest.
The spread was fixed at mid-swaps plus 6 basis points, for a re-offer yield of 2.672%.
Press conference following the Eurogroup meeting
Brussels, 11 March 2024
(Luxembourg) - The European Stability Mechanism (ESM) issued €2 billion of a new 5-year bond on Monday, completing one-third of its 2024 long-term funding programme of €6 billion.
The 2.625%, 18 September 2029 maturity bond achieved a strong order book in excess of €10.5 billion, excluding joint lead manager interest.
The spread was fixed at mid-swaps plus 6 basis points, for a re-offer yield of 2.672%.
Economic developments in Europe: what’s happening and what should we expect?
Michala Marcussen, Chief Economist at Société Générale, addressed these and other questions in our latest #ESMLunchTalk with ESM Chief Economist Rolf Strauch.
Some key takeaways:
Link to the event: Public Conference - Banking on Europe: Holding Pan-European Public Borrowers to Account - FHSE EN (uni.lu)
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 5 March 2024 for the 3-months Bills of the ESM was as follows:
Total Bids € 2,613.00 mn
Competitive bids € 811.00 mn
Non-competitive bids € 1,802.00 mn
Allotment / Issue volume € 1,049.62 mn