EFSF issues €3 billion 3-year bond
Luxembourg – The European Financial Stability Facility (EFSF) placed today a €3 billion 3-year bond maturing on 18 October 2017. The issuance spread was fixed at mid swap minus 8 basis points. This implies a reoffer yield for investors of 0.386%. The coupon rate is 0.25%
Barclays, Natixis and Unicredit acted as lead managers. The issue has drawn very strong demand, approaching €8 billion in orders received from investors worldwide. It is the first 3-year bond issued by the EFSF since March 2013.
Christophe Frankel, CFO and Deputy CEO said: “Today’s issuance was our first 3-year bond in 2014. Investors rewarded our maturity choice with a quick and strong book building. This enabled us to complete all the scheduled debt-raising for the EFSF this quarter and it is worth noting that we have concluded the first half of 2014 with the lowest coupons the EFSF has issued so far.”