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A&O Shearman represents the joint lead managers as the European Stability Mechanism issues USD2 billion in notes

A&O Shearman represents the joint lead managers as the European Stability Mechanism issues USD2 billion in notes
Published Date
Sep 11, 2026
Related people
Image of Diana Billik
Diana BillikPartner, Paris
Georges Haddad
Georges HaddadAssociate, London
Image of Sarah Capella
Sarah CapellaCounsel, Rome
Image of Edoardo Brugnoli
Edoardo BrugnoliSenior Associate, Rome
A&O Shearman advised the joint lead managers in connection with the European Stability Mechanism's (ESM) latest U.S. dollar bond offering. The ESM has issued USD2bn in notes due 2031. The proceeds from this issuance will be utilized for general operations of the ESM. 

“We were pleased to advise the joint lead managers on the ESM’s latest U.S. dollar bond offering. ESM remains a highly regarded supranational issuer with consistent investor demand, and we are glad to continue our role as dealer counsel on all of ESM’s USD bond issuances.”

The transaction team was led by partner Diana Billik with associate Georges Haddad on U.S. law matters, and counsel Sarah Capella and senior associate Edoardo Brugnoli on EU and UK law matters. 

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