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Luxembourg – The Board of Governors of the European Stability Mechanism (ESM) held its first annual meeting today at the ESM office in Luxembourg and approved the ESM Annual Report for 2012. The ESM Board of Governors comprises the 17 euro area finance ministers.

Luxembourg – The European Financial Stability Facility disbursed today €1.6 billion to Ireland. The funds were transferred in cash and the loan has a maturity of 29 years (2042).  

With this disbursement, Ireland has now received from the EFSF €14.4 billion out of the total committed amount of €17.7 billion.

Question: You had visited Beijing and discussed China's investments in EFSF in Oct. 2011. Now you are going to China again. How much has China invested in EFSF/ESM until now?

Luxembourg – The European Financial Stability Facility (EFSF) disbursed today €7.2 billion to Greece for the recapitalisation of the banking sector. Klaus Regling, EFSF CEO said: “The funds transferred to Greece should help to create a healthy and functioning financial sector, which is a precondition for the recovery of the Greek real economy”.

This amount was transferred via a cashless operation in two separate series: €3.6 billion in 11-year Floating Rating Notes (FRN) and €3.6 billion in 12-year FRN.

Luxembourg – The European Financial Stability Facility today placed a €4 billion 4 -year benchmark bond maturing on 5 June 2017. The issuance spread at reoffer was fixed at mid swap plus 4 basis points. This implies a reoffer yield for investors of 0.804%.

Barclays, Credit Agricole CIB  and J.P. MORGAN acted as joint lead managers for this issue.

Today's issue has drawn strong demand with close to €5 billion in orders received from investors worldwide.