The EFSF held a tap via auction. The reopening was in relation to a three-year bond which was initially placed on 24 May 2012 for an amount of €3 billion. The auction raised an additional €1.48 billion. Investor demand was high with over €5.47 billion in bids received.
Christophe Frankel, Deputy CEO and CFO, stated: “Strong reverse inquiries from many participants led us to re-open the three-year bond today. This is the second time we have held a tap via auction. We successfully reopened a five-year bond using this method on 15 May.”
The funds raised will be used to support the financial assistance programmes for borrower Member States. In November 2011, EFSF adopted a new diversified funding strategy. One consequence of this strategy is that funds are no longer attributed to a particular country. The funds are pooled and then disbursed to the beneficiary countries.
Press release
© EFSF - European Financial Stability Facility
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