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John Goossen, ESM Senior Legal Officer, will take part in the international financial institutions Career Event at Erasmus Rotterdam University on 6 April 2022.

Workshops: 10.30 – 11.15; 13.45 – 14.30, panel discussion: 16.30 – 17.15 (all CET)

Link to event: https://www.werkenbijdeeu.nl/nieuws/nieuws/2022/03/09/career-event-internationale-financiele-instellingen-woensdag-6-april-2022 

(Luxembourg) - The European Financial Stability Facility (EFSF) raised €3 billion towards its 2022 funding needs with a new bond issued on Tuesday. The latest transaction means the EFSF has now raised nearly half of its annual funding needs from three bond issues.

The EFSF issued a new 0.875% bond, maturing on 5 September 2028. The spread was fixed at mid-swaps minus 17 basis points, for a reoffer yield of 0.983%. The order book was in excess of €7 billion, including €300 million of joint lead manager interest.

The current increase in oil, gas, grain, and metal prices translates to major changes in terms of trade for countries around the world.[1] Over the past year, the price of energy and other commodities the euro area imports has increased faster than the price of its exports, disadvantaging its economy. The rebound of global demand following the pandemic crisis initially drove this change. While euro area economies suffered from the higher costs of imports, higher demands for its products partially balanced this out.

The Boards of Directors of the European Stability Mechanism (ESM) and European Financial Stability Facility (EFSF) agreed today to waive the mandatory repayment obligation of ESM/EFSF loans in connection with an early repayment of Greece’s remaining outstanding loans to the International Monetary Fund (IMF), and an early loan repayment to Greek Loan Facility (GLF) lenders.