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(Luxembourg) - The European Financial Stability Facility (EFSF) raised €2 billion on Monday with a tap sale of a 10-year bond tenor and completed its 2021 funding needs.

The EFSF no-grow tap sale takes the outstanding issue of the 0% 20 January 2031 bond to €5 billion. The spread was fixed at mid-swaps minus 5 basis points, for a reoffer yield of 0.014%. The bond was first issued in January when it raised €3 billion.

The order book was in excess of €16.5 billion, excluding joint lead manager interest.

The European Stability Mechanism (ESM) will launch 12-months Bills of the European Stability Mechanism (ESM) by auction. An issue volume up to EUR 1.1 billion is envisaged.

The result of the auction of 6 July 2021 for the 3-months Bills of the ESM was as follows:
Total Bids: € 12,510.00 mn
Competitive bids €2,340.00mn
Non-competitive bids €10,170.00mn
Allotment / Issue volume €1,498.65mn

The European Stability Mechanism (ESM) will launch 3-months Bills of the European Stability Mechanism (ESM) by auction. An issue volume up to EUR 1.5 billion is envisaged.

Time schedule of the auction procedure:
Date of invitation to bid: Monday, 5 July 2021
Bidding period: Tuesday, 6 July 2021, from 8:00 a.m. until 12:30 p.m. CET
Value date: Thursday, 8 July 2021

 

ESM Managing Director Klaus Regling will speak at the press conference following the Eurogroup meeting on 12 July 2021.

ESM Managing Director Klaus Regling will speak on a panel at a virtual conference organised by the Maleki Corporate Group on 5 July from 11.20 to 12.30 CET. The panel will discuss unlocking the potential of Europe's capital markets: strengthening the international role of the euro and leading globally on sustainability.