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European Stability Mechanism issues 3 bln euros of 16-year bond

Xinhua, April 26, 2016 Adjust font size:

The European Stability Mechanism (ESM) Tuesday issued 3 billion euros (3.39 billion U.S. dollars) of 16-year benchmark bond with a coupon of 1.125 percent, completing its funding needs for the second quarter.

"The ESM has achieved its funding targets for the second quarter with just two transactions. By adding a new 16-year bond to the 8-year deal earlier this month, we filled the gap between the outstanding 2026 and 2036 maturities and offered investors a new point on the curve," Siegfried Ruhl, ESM head of funding, said.

The ESM, an inter-governmental institution inaugurated in October 2012, has the mandate to preserve financial stability in the euro area by providing financial assistance to member states with severe financing problems.

The institution finances its assistance by issuing bonds and other debt instruments. The shareholders of the ESM are the 19 euro area member states. Endit