Search

The EFSF, the [European Financial Stability Facility] rated AA (S&P)/ (P) Aa1 (Moody's) /AA (Fitch) has mandated Goldman Sachs International, J.P. Morgan and UniCredit to joint lead manage its upcoming new EUR 30yr benchmark. No further group. The transaction is expected to be launched and priced in the near future, subject to market conditions. Joint Bookrunners will be paid a fee in connection to the transaction.

The Board of Directors of the European Financial Stability Facility (EFSF) decided today to reduce to zero the step-up margin due from Greece for the period between 17 June 2019 and 31 December 2019, as part of the medium-term debt relief measures agreed for the country. The value of the reduction amounts to €122.15 million.

The EFSF, the European Financial Stability Facility, rated (P)Aa1 (Moody’s) / AA (Fitch) / AA (S&P), has sent a Request for Proposal to a selection of banks from the EFSF/ESM Market Group with regards to an upcoming transaction scheduled for the week of 13th January 2020, subject to market conditions.
 

This paper uses a rich dataset of financial and macroeconomic variables for euro area economies, and a range of econometric techniques, to discuss challenges in predicting episodes of market access tensions by sovereign borrowers.