Interest tops EUR9bn for debut ESM five-year bond
LONDON, Oct 8 (IFR) - The European Stability Mechanism has collected over EUR9bn of interest for its inaugural five-year bond and order books will close at short notice, a bank managing the deal said on Tuesday.
ESM, rated Aa1/AAA by Moody's and Fitch, has set guidance at mid-swaps flat/minus 1bp, from initial price thoughts of mid-swaps plus 1bp area, via lead managers HSBC, JP Morgan and SGCIB.
The transaction is expected to price later on Tuesday. (Reporting by John Geddie, editing by Julian Baker)
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