EFSF taps bond for €2 billion
Luxembourg – The European Financial Stability Facility today tapped a bond, initially placed on 24 July 2013 maturing on 31 July 2018 for an amount of €2 billion. This tap brings the total size of the issue to €6 billion.
The issuance spread at reoffer was fixed at mid swap plus 4 basis points. This implies a reoffer yield for investors of 0.919%.
Citi, Deutsche Bank and Unicredit acted as lead managers for this tap.
Christophe Frankel, CFO and Deputy CEO said: “As a response to investors who requested greater liquidity, we took the strategic decision to tap an existing bond.”
“The EFSF has now raised the outstanding €2 billion required to complete the €14 billion funding plan foreseen for this quarter. The remaining issuance window in March will therefore not be used for a benchmark transaction.”