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EFSF sold €1.501 billion in six-month bills at an average price of 99.86550 per cent with a maturity date of 19 July 2012 (182 interest days). The weighted average yield was 0.2664 per cent. Settlement date is Thursday 19 January (T+2).
The auction was carried out by the German Finance Agency (Finanzagentur) using the Deutsche Bundesbank’s EFSF bidding system “EBS”.
EFSF has been assigned the highest quality short-term rating by all three credit rating agencies – Standard & Poor’s ‘A-1+’, Moody’s P-1 and Fitch Ratings ‘F1+’.
This is EFSF’s second bill auction. The first, a successful three-month bill auction, was held in December of last year.
Christophe Frankel, CFO and Deputy CEO commented: “The success of today’s auction confirms investors’ confidence in EFSF as a high-quality issuer. As we establish our short-term bill programme, we will now be holding regular auctions focusing on three-, six- and 12-month tenors”.