ESM sells 2.941bn euros of six month bills

BERLIN: The permanent euro zone rescue fund, the European Stability Mechanism (ESM), sold 2.941 billion euros of new six-month bills in an auction on Tuesday.

The Bundesbank, whose systems were used to conduct the sale, said the ESM's debt sale drew bids worth 1.8 times the amount on offer. The average yield was 0.0137 percent.

The ESM bill programme offers regular Tuesday bill auctions initially focusing on three-month and six-month bills.