ESM prices tight to complete Q2 funding

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By Burhan Khadbai
07 May 2019

The European Stability Mechanism offered very little new issue premium on a pair of taps to wipe out its €2.5bn funding needs for the second quarter in one go.

Leads CommerzbankHSBC and JP Morgan priced an increase of ESM’s outstanding January 2022 and March 2029 bonds on Tuesday.

The January 2022 bond was increased by €1.5bn to take its new outstanding size to €4.5bn, while the March 2029 bond was increased by €1bn to take its new outstanding ...

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