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ESM sets price thoughts on debut bond
October 7, 2013 / 1:07 PM / 4 years ago

ESM sets price thoughts on debut bond

LONDON, Oct 7 (IFR) - The European Stability Mechanism is taking indications of interest from investors on its inaugural five-year bond at mid-swaps plus 1bp area, a bank managing the deal said on Monday.

ESM, rated Aa1/AAA by Moody’s and Fitch, earlier on Monday mandated HSBC, JP Morgan and SGCIB as joint lead managers for the deal.

The transaction is expected to come to market on Tuesday, subject to market conditions, said another lead manager. (Reporting by John Geddie, editing by Julian Baker)

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