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Luxembourg – The European Financial Stability Facility (EFSF) placed today a €5 billion 7-year bond maturing on June 7, 2021. The issuance spread was fixed at mid swap plus 15 basis points. This implies a reoffer yield for investors of 1.495%. The coupon rate is 1.375%

Credit Suisse, DZ Bank and J.P. Morgan acted as lead managers. The issue has drawn strong demand, with over €8.5 billion in orders received from investors worldwide.

Athens – The Board of Directors of the European Stability Mechanism (ESM) approved today the disbursement of €150 million to Cyprus. This follows the positive assessment of the third quarterly review of Cyprus’s macroeconomic adjustment programme and approval of the supplemental Memorandum of Understanding (MoU) with Cyprus by the ESM Board of Governors.

Luxembourg – The European Stability Mechanism (ESM) has now reached its target level of €80 billion in paid-in capital, as ESM Members transferred the final tranche of €15.7 billion. The payments were carried out in five tranches, starting in October 2012 when the ESM was inaugurated.

The EBRD and the European Stability Mechanism (ESM) have signed a Memorandum of Understanding which provides a framework for the future co-operation between the institutions. The two institutions have already established close working relations and the document is formalising the collaboration between the two International Financial Institutions.

Luxembourg – The Board of Directors of the European Financial Stability Facility (EFSF) has elected Hans Vijlbrief as its new Chairman. Hans Vijlbrief has been a member of the EFSF Board of Directors since 2011 when he became Treasurer-General at the Ministry of Finance of the Netherlands. He succeeds Georges Heinrich, the outgoing Treasurer-General at the Ministry of Finance of Luxembourg, who had been Chairman of the EFSF Board of Directors since 2012.