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EFSF taps 3-year bond

Press releases
Luxembourg – The European Financial Stability Facility today tapped a 3-year bond, initially placed on 26 February 2013 and maturing on 7 March 2016 for an amount of €1.5 billion. This is the second tap of this bond following a first tap held on 20 March 2013.
The issuance spread at reoffer was fixed at mid swap minus 10 basis points. This implies a reoffer yield for investors of 0.381%
Credit Agricole CIB, JP Morgan and LBBW acted as lead managers for this tap.
Christophe Frankel, CFO and Deputy CEO stated “This tap, coming in response to reverse investor inquiries in the shorter end of the curve, has allowed us to bring the total size of this bond to €5.5 billion”.
As indicated on April 8 the issuance window scheduled for next week will not be used for a benchmark transaction.


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