EFSF taps 10-year bond via auction
Luxembourg – European Financial Stability Facility today held a tap via auction. The reopening was in relation to a 10-year bond which was initially issued on 5 September 2012 for an amount of €3 billion. Today’s auction raised an additional €974 million. Investor demand was high with over €2.1 billion in bids received.
The weighted average price was 101.03% and the average yield was 2.13%. The bid/cover ratio was 2.2.
Christophe Frankel, CFO and Deputy CEO stated "EFSF announced this week as a potential issuance week and has fulfilled its commitment by holding a 10-year auction. EFSF disposes of various instruments for raising funds in the market and holding a tap via auction is one of such instruments. This is the third time EFSF has held a tap via auction following the successful reopening of a 3-year and a 5-year bond last year”.