February 25, 2021

The ESM places 3,000 million with a three-year bond

The ESM places 3,000 million with a three-year bond


Specifically, although the ESM has closed the issue by placing the expected amount, it has recorded an excess demand of 5,800 million euros. "The appetite of investors has allowed us to close a good deal for the ESM in the beginning of the fourth quarter," said the head of financing and investor relations, Siegfried Ruhl.

"Being present at the short end of the curve offered investors an expiration date that has had a limited offer so far this year," added Ruhl.

The bonds, which will expire on January 17, 2022, have been placed at an interest rate 20 basis points below the 'mid-swap', which is the benchmark for transactions of this type, which implies profitability -0.054% on resale.

In this issue, the managers were Bank of America Merrill Lynch, Goldman Sachs and Unicredit.

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