KfW mandates as ESM romps home

October 08, 2013 12:00 am

The European Stability Mechanism made a benchmark debut on Tuesday with a five year that came at the upper end of size expectations. Pricing offered a decent premium over where the borrower is expected to trade in relation to its peers, helping to produce a deal that was more than twice subscribed in just 45 minutes. KfW is set to follow with a benchmark in the same maturity.

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