The banks have been chosen from the 51 banks that comprise the EFSF Market Group. The scheduled seven-year benchmark bond is due to be launched shortly, subject to market conditions. This will be EFSF's first seven-year bond.
The funds raised will be used to support the financial assistance programmes for Ireland, Portugal and Greece. 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 programme countries.
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© EFSF - European Financial Stability Facility
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