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NEW MANDATE: ESM Dual Tranche Taps: Jan22 &.....>

ESM
ESM: NEW MANDATE: ESM Dual Tranche Taps: Jan22 & Mar29:
"Today the ESM, the European Stability Mechanism rated Aa1 (Moody's) /AAA
(Fitch) has mandated Commerzbank, HSBC and J.P. Morgan to joint lead manage an
upcoming dual tranche of E2.5 billion no-grow consisting of an increase of the
ESM 0.00% Jan 2022 bonds and an increase of the ESM 0.50% Mar 2029 bonds. No
further group.
The transaction is expected to be launched and priced in the near future,
subject to market conditions. Joint Bookrunners will be paid a fee in connection
to the transaction. FCA/ICMA stabilisation.
The manufacturer target markets (MIFID II product governance) as assessed by the
lead managers are eligible counterparties and professional clients (all
distribution channels)."

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