October 7, 2013 / 11:10 AM / 4 years ago

ESM hires banks for inaugural five-year bond issue

LONDON, Oct 7 (IFR) - The European Stability Mechanism has mandated HSBC, JP Morgan and SGCIB as joint lead managers for an inaugural five-year euro benchmark transaction, it said in a statement on Monday.

ESM, rated Aa1/AAA by Moody’s and Fitch, is expected to launch and price the transaction in the near future, subject to market conditions. (Reporting by John Geddie, editing by Helene Durand, Julian Baker)

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