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EFSF issues €8 billion 5-year bond

Luxembourg – The European Financial Stability Facility (EFSF) placed today a €8 billion 5-year bond maturing on 22 January 2019. The issuance spread was fixed at mid swap plus 7 basis points. This implies a reoffer yield for investors of 1.278%. The coupon rate is 1.25%

HSBC, Morgan Stanley and RBS acted as lead managers. The issue has drawn strong demand, with close to €12 billion in orders received from investors worldwide.

Interview at the sidelines of the International Conference “More Europe: Letting the Euro Work at Full Speed” at the Istituto per gli Studi di Politica Internazional (ISPI)
Interview with Hong Kong Trade Development Council, at the sidelines of the Asian Financial Forum
“Tomorrow’s Financial Services – Breakdown or Revival?”,
Intervie with Latvijas Avize
Spain successfully exits ESM financial assistance programme

Luxembourg – The ESM financial assistance programme for Spain expires today with a successful exit. Since the programme started in December 2012, the ESM has disbursed a total of €41.3 billion to the Spanish government for the recapitalisation of the country’s banking sector. Spain will not request any follow-up assistance from the ESM.

ESM Board of Directors approves €100 million disbursement to Cyprus

Luxembourg – The Board of Directors of the European Stability Mechanism (ESM) approved today the disbursement of €100 million to Cyprus. This follows the approval of the updated Memorandum of Understanding (MoU) by the ESM Board of Governors and the positive assessment of the second quarterly review of Cyprus’s macroeconomic adjustment programme.

EFSF Board of Directors approves €500 million disbursement to Greece

Luxembourg – The Board of Directors of the European Financial Stability Facility (EFSF) approved today the disbursement of €500 million to Greece. This follows the positive assessment of the third review of Greece’s macroeconomic adjustment programme, and the completion of the remaining milestones, including reforms related to public administration and regulated professions as well as measures to comply with privatisation targets.

EFSF financial assistance for Ireland ends with successful Irish exit

Luxembourg – The EFSF financial assistance programme officially expires today with a successful Irish programme exit. Since the programme started in February 2011, the EFSF has disbursed a total of €17.7 billion to support the macroeconomic adjustment in Ireland. The loans were granted at a very low interest rate with a weighted average maturity of up to 22 years.

Interview with the Irish Examiner

EFSF CEO Klaus Regling in interview with The Irish Examiner
7 December 2013

This is the full text of the Irish Examiner interview with Klaus Regling, chief executive officer of the European Financial Stability Facility (EFSF) and Managing Director of the European Stability
Mechanism (ESM), established by the euro area Member States to raise loans for euro area countries shut out of the markets.

Future role of EFSF/ESM in Ireland: