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The issuance spread at re-offer was fixed at mid swap plus 23 basis points. This implies a reoffer yield for investors of 1.242 per cent.
This five-year bond by the EFSF was met with strong demand, with over €12 billion in orders received from investors around the world.
Barclays, BNP Paribas and Goldman Sachs International acted as lead managers for this issue, and Deutsche Finanzagentur acted as Issuance Agent.
Christophe Frankel, CFO and Deputy CEO of EFSF stated: “The favourable market conditions, buoyed by the inauguration of the European Stability Mechanism (ESM), provided an ideal environment to issue. Whilst the ESM will be the main instrument to finance new programmes, the EFSF will complete the ongoing programmes for Greece, Portugal and Ireland.”