EFSF issues five-year bond

24 July 2013

The European Financial Stability Facility placed a €4 billion five-year benchmark bond maturing on 31 July, 2018. The issuance spread was fixed at mid swap plus 15 basis points. This implies a reoffer yield for investors of 1.331 per cent.

Barclays, Citi and Credit Suisse acted as lead managers for this issue. The issue was met with solid demand, with more than €6.1 billion in orders received from investors worldwide.

Christophe Frankel, CFO and Deputy CEO, stated: “We decided to limit the size of today’s transaction to €4 billion as we have now already completed €9 billion out of €13 billion targeted this quarter. There will be three more issuance windows for the remainder of Q3, the next one being the week of 26th August”.

Press release

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