ESM expected in dollars next week

By Burhan Khadbai
21 Aug 2019

The European Stability Mechanism is expected to use its scheduled funding window next week to issue a dollar bond after it did not send out a request for proposals for a euro deal as it usually does, according to market participants.

When the ESM and sister issuer, the European Financial Stability Facility (EFSF), issue euro bonds, they typically send banks an RFP on the Wednesday before its funding window.

However, after no RFP was sent, SSA bankers said, which they interpreted as meaning the ESM will likely issue a ...

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