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Luxembourg – Klaus Regling, Managing Director of the European Stability Mechanism (ESM), welcomed today’s ruling of the German Constitutional Court. “The decision of the German Constitutional Court is good for Europe and for Germany”, Klaus Regling said. “The Court confirms its preliminary ruling of September 2012 and this decision provides clarity.”

Luxemburg – Klaus Regling, Managing Director des Europäischen Stabilitätsmechanismus (ESM), begrüßt das heutige Urteil des Bundesverfassungsgerichts zum ESM. „Die Entscheidung des Bundesverfassungsgerichts ist eine gute Entscheidung für Europa und für Deutschland“, sagte Klaus Regling. „Das Gericht bestätigt den Grundtenor seiner vorläufigen Entscheidung von September 2012 und schafft so endgültig Klarheit.“

Luxembourg – Securities issued by the European Stability Mechanism (ESM) and the European Financial Stability Facility (EFSF) have been designated as Level 1 High Quality Liquid Assets (HQLA), according to a decision today by the Basel Committee on Banking Supervision (BCBS).[1] 

As a result, securities issued by both the ESM and EFSF will be included in the list of entities receiving a 0% risk weighting under Basel II.[2]

 Luxembourg – The European Financial Stability Facility today tapped a bond, initially placed on 24 July 2013 maturing on 31 July 2018 for an amount of €2 billion. This tap brings the total size of the issue to €6 billion.

The issuance spread at reoffer was fixed at mid swap plus 4 basis points. This implies a reoffer yield for investors of 0.919%.

Citi, Deutsche Bank and Unicredit acted as lead managers for this tap.

Riga – On the occasion of the forthcoming accession of the Republic of Latvia to the European Stability Mechanism (ESM), the Latvian Finance Minister Andris Vilks and ESM Managing Director Klaus Regling met today in Riga. At the Finance Minister’s invitation Mr. Regling is in Riga for talks today and tomorrow. He will also meet with the Prime Minister, the Central Bank Governor and Members of the Latvian Parliament.

Luxembourg – The European Stability Mechanism (ESM) today placed a €6 billion 7-year benchmark bond with a coupon of 1.375% maturing on 4 March 2021. The issuance spread at reoffer was fixed at mid swap plus 7 basis points. This implies a reoffer yield for investors of 1.514%.

Crédit Agricole, Goldman Sachs International and Société Générale acted as joint lead managers for this syndicated issue.

The bond was met with very strong interest, with more than €9.6 billion in orders received from investors worldwide.