EFSF taps 10-year bond for €1.5 billion
Luxembourg – The European Financial Stability Facility (EFSF) today tapped an existing 10-year bond that was placed earlier this year and matures on 27 June 2024 for €1.5 billion. This tap brings the total size of the issue to €4.5 billion.
The issuance spread at reoffer was fixed at mid swap minus 1 basis point. This implies a reoffer yield for investors of 0.956%.
LBBW, SG CIB and UniCredit acted as lead managers for this tap. The issue attracted very strong demand, with above €2 billion in orders received from investors worldwide.
Christophe Frankel, CFO and Deputy CEO said: “This tap was the first time a 10-year EFSF issuance offered a yield of below 1%.Throughout 2014, EFSF bonds have expanded our solid, high quality investor base and today’s tap marks the final issuance of a very successful year.”