For all six EFSF/ESM financial assistance programmes, each loan tranche has its own specified repayment date. Depending on the type of loan, the repayment of a loan tranche may be amortised (i.e. is spread over a certain number of years) or the full amount of a tranche may be due at the end of the loan term (so-called bullet loan).
There is always a grace period before the beneficiary country is required to start repaying the principal amounts to the ESM. This period varies for each country.
During or following the programmes for Ireland, Portugal, and Greece, the EFSF Board of Directors approved the extension of the weighted average maturity of loans for these countries. The repayment profile displayed in the dashboards allows users to see how the repayment profile of these countries changed after the extension.
For each EFSF/ESM financial assistance programme, there are one or more financial assistance agreements – a legal document that specifies the financial terms and conditions of the loans. The EFSF signed multiple agreements with Ireland, Portugal, and Greece (EFSF). These were required because of changes in the EFSF’s governance, funding, lending, financial, and pricing structure during the programmes for those countries. The repayments dashboard allows users to view the loan repayments corresponding to each financial assistance agreement.