ESM-EFSF
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The European Financial Stability Facility took several SSA bankers by surprise on Tuesday, when it mandated for a 30 year tap in an unstable euro market. -
The euro market was stable on Monday after a scorching sell-off over the last two weeks, boding well for a supranational’s benchmark plans.
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The prospect of European Central Bank quantitative easing failing to suppress eurozone borrowing costs sent panic through the sovereign, supranational and agency sector this week amid a savage sell-off across European debt markets.
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The European Financial Stability Facility will have a tricky tenor choice for a deal window next week — if it chooses to use it at all, said SSA bankers.
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The European Financial Stability Facility may not have to print oversubscribed benchmarks just to show that the eurozone isn’t falling apart any more, but it still has to step up on occasion.
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The European Financial Stability Facility may not have to print oversubscribed benchmarks just to show that the eurozone isn’t falling apart any more, but it still has to step up on occasion.
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The European Financial Stability Facility became the first public sector borrower to sell a €3bn syndication in euros after the European Central Bank began a public sector purchase programme in March.
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The European Financial Stability Facility is set to create a new pricing benchmark on Tuesday — but the latest Greek worries could make conditions turbulent.
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The European Stability Mechanism sold the first euro benchmark at a negative yield this week — but stopped short of taking an innovative approach to marketing bonds that others may still adapt.
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The European Stability Mechanism has made a strong case that negative yielding bonds are an option for SSA issuers, after building a thumping book for paper yielding minus 0.07%.
