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New 5-year syndication: Priced

ESM ISSUANCE
  • Reoffer: 99.947 to yield 3.011%
  • Spread set previously at MS-10bps (guidance was MS-7bps area)
  • Spread: 2.20% Apr-28 Bobl + 50.1bp (ref 98.513 / HR 98%)
  • Maturity : 15-Mar-2028
  • Size set at E3bln (larger than the E2bln MNI expected)
  • Books closed in excess of E15.1bln (inc E650mln JLM interest)
  • Settlement : 27-Feb-2023 (T+5)
  • Coupon : 3.00%, Ann, ACT/ACT, long first
  • ISIN: EU000A1Z99R5
  • Bookrunners : DB (B&D/DM) / NWM / SG
  • Timing : TOE: 13.49 CET. FTT: Immediately.
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