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Luxembourg – The European Stability Mechanism (ESM) placed today a €4 billion 2-year bond maturing on 28 October 2016. The transaction was marketed on a yield basis and finally priced with a 0.04% reoffer yield for investors. This corresponds with a swap spread of mid swap minus 19.2 basis points. The coupon was set at 0.00% which delivered a reoffer price of 99.92%. It is the first ESM bond issued with a 0% coupon.
Luxembourg - The European Stability Mechanism (ESM) and Nordic Investment Bank (NIB) have signed today a Memorandum of Understanding (MoU). It formalises the current close working relations between the two institutions and establishes a framework for future cooperation.