Invitation to bid for 3-months Bills of the European Stability Mechanism (ESM)

Press release Invitation to bid for Frankfurt am Main 5 May 2025 Page 1 of 2 3-months Bills of the European Stability Mechanism (ESM) As already announced the European Stability Mechanism (ESM) is offering 3-months Bills of the European Stability Mechanism (ESM) for sale by auction. An issue volume up to EUR 1.1 billion is envisaged. Members of the “ESM Market Group” are entitled to bid. Bids are to be transmitted electronically through the Deutsche Bundesbank’s ESM Bidding System (EBS). The Deutsche Bundesbank acts in the name and for the account of the ESM, which is seller of the Bills. Bids must be for a par value of not less than EUR 1 million or an integral multiple thereof. The yield bids must be expressed as full 0.001 percentage points. It is possible to make non-competitive bids and to submit several bids at different yields. No price bids will be considered. The bids accepted by the issuer will be allotted at the yield specified in the bid. Non-competitive bids are filled at the weighted average yield of the competitive bids accepted. The right to scale down bids is reserved. Time schedule of the auction procedure: Bidding period: Tuesday, 6 May 2025, from 8:00 a.m. until 12:30 p.m. Frankfurt time Value date: Thursday, 8 May 2025 Settlement: Delivery versus payment-settlement in the night-time processing of Clearstream Banking AG Frankfurt, beginning on the eve of the value date Characteristics of the new...