EFSF Hires Banks for New 16-Year Bond
May 16 2017 - 8:23AM
Dow Jones News
By Emese Bartha
The European Financial Stability Facility hired banks Tuesday
for the upcoming syndication of a new 16-year bond, with the
transaction to be launched in the near future, subject to market
conditions, it said.
The banks hired are Bank of America Merrill Lynch, Credit
Agricole CIB and HSBC.
The EFSF planned to issue 13 billion euros ($14 billion) in
bonds in the second quarter of 2017 and reached this target in
April. Therefore, the upcoming issuance will represent
pre-funding.
The EFSF was created by the eurozone as a temporary crisis
resolution vehicle in 2010. It doesn't provide financial assistance
now, but continues to receive loan repayments from beneficiary
countries, make interest and principal payments to holders of EFSF
bonds and roll over outstanding bonds.
-Write to Emese Bartha at emese.bartha@wsj.com
(END) Dow Jones Newswires
May 16, 2017 08:08 ET (12:08 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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