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Luxembourg – The European Stability Mechanism (ESM) today issued a new €3 billion 10-year euro benchmark bond with a coupon of 1%, maturing on 23 September, 2025. Together with last week’s 3-year deal, the ESM has now fulfilled half of its funding needs for the remainder of the year in two single transactions.

The spread at issuance was fixed at mid swaps minus 4 basis points. This implies a reoffer yield for investors of 1.071%. LBBW, Morgan Stanley and SG CIB acted as lead managers for the issue. The total book size was in excess of €4 billion.

Luxembourg – The European Stability Mechanism (ESM) today issued a new €6 billion 3-year euro benchmark bond with a coupon of 0.05%, maturing on December 17, 2018. This is the ESM’s first issue after the new assistance programme for Greece. It is also the ESM’s first-ever 3-year bond.

The spread at issuance was fixed at mid swaps minus 11 basis points. This implies a reoffer yield for investors of 0.071%. Barclays, HSBC and J.P. Morgan acted as lead managers for the issue. The total book size was in excess of €7 billion.

Introductory Statement at the meeting with the members of the Committee on Finance and Monetary Policy, the Committee on European Affairs and the Committee on Foreign policy of the Slovenian Parliament

Good morning, Ladies and Gentlemen, I would like to thank the Slovenian Parliament for this invitation to talk about the European Stability Mechanism. I assume that you will be particularly interested in the new ESM programme for Greece since I am aware that the parliamentary committees considered the programme in detail before it was approved.

Klaus Regling
ESM Managing Director
Einführung bei der Bundespressekonferenz
Berlin, 27. August 2015

Guten Morgen, sehr verehrte Damen und Herren.

Ich bedanke mich bei der Bundespressekonferenz für die Einladung, über die Aktivitäten des Europäischen Stabilitätsmechanismus zu sprechen. Ich vermute, dass Sie das neue ESM-Programm für Griechenland besonders interessiert. Das Programm wurde am 19. August nach der Billigung durch den Deutschen Bundestag von den Euro-Finanzministern im ESM-Gouverneursrat beschlossen.

Luxembourg – The European Stability Mechanism (ESM) approved the first tranche of financial assistance for Greece of €26 billion. This decision follows the ESM Board of Directors’ approval of the Financial Assistance Facility Agreement (FFA), specifying the terms of financial assistance for Greece. The Board also decided to immediately disburse €13 billion to Greece.

Luxembourg – The Board of Governors of the European Stability Mechanism (ESM) approved today the ESM Managing Director’s proposal for a Financial Assistance Facility Agreement (FFA) with Greece. Under the terms of this agreement, which the ESM Board of Directors also approved on Wednesday, the ESM will provide up to €86 billion in financial assistance to Greece over three years. The FFA is the ESM’s loan contract with Greece, which ESM Managing Director Klaus Regling and the Greek Minister of Finance Euclid Tsakalotos will sign.