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Interview with RTE

Klaus Regling - Interview with RTE TV (Ireland)

4 December 2013


The head of the EU's permanent bailout fund has said Ireland was "right" to exit the bailout without a precautionary credit line.

Klaus Regling, the managing director of the European Stability Mechanism (ESM), said market reaction to the Government's decision showed it was the correct one.

EFSF makes final disbursement to Ireland

Luxembourg – The European Financial Stability Facility (EFSF) disbursed today €2.27 billion in the final instalment of its financial assistance programme for Ireland. The maturity of today’s instalment is 20 years (2033).

The first disbursement of EFSF financial assistance took place in February 2011. The total amount disbursed to Ireland is €17.7 billion, as agreed by ECOFIN and the Eurogroup in December 2010.

"Globale Währungsblöcke: Der Euro als Belastung oder als Wettbewerbsvorteil?",
EFSF and ESM complete funding programme for 2013

Following today’s successful 3-month bill auction, the EFSF and ESM announce the completion of their funding programmes for 2013. As a result the potential long-term issuance window scheduled for the week of 9 December will not be used.
 
The ESM launched its short-term bill programme in January 2013 and has raised €50.1 billion (of which €19.2 billion outstanding) from the auction of 3-month and 6-month bills.

EFSF issues €1.5 billion 16-year bond

Luxembourg – The European Financial Stability Facility (EFSF) placed today a €1.5 billion 16-year bond maturing on 3 December 2029. The issuance spread was fixed at mid swap plus 29 basis points. This implies a reoffer yield for investors of 2.758%.

Citi, Credit Agricole CIB and Credit Suisse acted as lead managers for this issue.

Interview with CNBC, at the Euro Finance Week in Frankfurt 
EFSF Board of Directors approves €3.7 billion disbursement to Portugal

Luxembourg – The Board of Directors of the European Financial Stability Facility (EFSF) approved today the disbursement of €3.7 billion to Portugal. This follows the positive assessment of the combined eighth and ninth quarterly reviews of Portugal’s economic adjustment programme.

Klaus Regling, CEO of the EFSF said: “After a couple of years of intense adjustment and tremendous efforts by its people, Portugal reaches now the decisive phase towards regaining market access, the ultimate goal of the EFSF programme. Given the remarkable progress so far, this goal is within reach”.

ESM issues 10-year bond

Luxembourg – The European Stability Mechanism (ESM) today placed a €3 billion 10-year benchmark bond with a coupon of 2.125% maturing on 20 November 2023. The issuance spread at reoffer was fixed at mid swap plus 19 basis points. This implies a reoffer yield for investors of 2.26%.

Goldman Sachs International, Natixis and Nomura acted as joint lead managers for this syndicated issue.

Interview with Cino Días
Euro area Member States transfer fourth tranche of ESM paid-in capital

Luxembourg – The 17 Member States of the euro area have by today transferred €15.7 billion in the fourth tranche of paid-in capital to the ESM. The total amount of ESM paid-in capital has thus increased from €48.6 billion to €64.3 billion.

“The build-up of the ESM’s paid-in capital proceeds as foreseen, said Klaus Regling, Managing Director of the ESM. “By April next year the ESM will have a paid-in capital of around €80 billion, more than any other international financial institution worldwide.”