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European Stability Mechanism offers dollar notes due 2020 at mid-swaps plus 1 bp area
By Cristal Cody
Tupelo, Miss., Oct. 16 – The European Stability Mechanism plans to price two-year dollar-denominated notes in a Rule 144A and Regulation S transaction on Tuesday, according to a market source.
The notes due Oct. 23, 2020 were initially talked to price with a spread in the mid-swaps plus 1 basis point area.
BofA Merrill Lynch, Barclays and Citigroup Global Markets Ltd. are the bookrunners.
The European Stability Mechanism is a Luxembourg-based intergovernmental organization that provides financial assistance to member states.
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