EFSF will reopen the 1.125 per cent bond of the EFSF launched on 24 May 2012 and maturing on 1 June 2015 on 31 July 2012, using an auction procedure. An increase up to €1.5 billion is envisaged for the issue. The current issue volume of the bond amounts to €3 billion.
Members of the “EFSF Market Group” are entitled to bid. Bids are to be transmitted electronically through the Deutsche Bundesbank’s EFSF Bidding System (EBS). Bids must be for a par value of not less than €1 million or an integral multiple thereof. The price bids must be expressed as terms of full 0.01 percentage points. It is possible to make non-competitive bids and to submit several bids at different prices.
The bids accepted by the issuer will be allotted at the price specified in the bid. Non-competitive bids are filled at the weighted average price of the price bids accepted. The right to scale down bids is reserved.
Press release
© Deutsche Bundesbank
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