ESM opts for short end, French agency set for debut benchmark

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By Burhan Khadbai
21 Oct 2019

The European Stability Mechanism has chosen a five year tenor to kick off its funding for the fourth quarter. Meanwhile, a French public sector agency is out with its debut sustainable benchmark bond.

On Monday, ESM mandated Crédit Agricole, Nomura and UniCredit to lead a long five year euro benchmark, due March 2025.

It will be ESM’s first outing in the euro short end for a new benchmark since October 2018 when it raised €3bn with a three ...

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