KfW mandates as ESM romps home
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.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts
