ESM plans to launch first long-term bond in October
LONDON, Aug 30 (IFR) - The European Stability Mechanism (ESM) plans to launch its inaugural long-term bond issue in October, subject to market conditions, the rescue fund said in an emailed statement on Friday.
The ESM started issuing short-term bills in January 2013, taking over from its temporary predecessor, the European Financial Stability Facility (EFSF).
The ESM long-term funding programme is scheduled to be EUR9bn in 2013 and EUR17bn in 2014. However, the actual yearly funding volume will depend on the programmes to be financed and the rollover of existing debt. (Reporting by John Geddie; editing by Sudip Roy)
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