\exceptionally strong demand\ for eu bailout fund bonds
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

'Exceptionally strong demand' for EU bailout fund bonds

Arab Today, arab today

Arab Today, arab today 'Exceptionally strong demand' for EU bailout fund bonds

Frankfurt - AFP

The EU's bailout fund on Tuesday hailed what it termed "exceptionally strong demand" as it raised seven billion euros ($9 billion) in one-year debt. The first ever one-year offering from the European Financial Stability Facility (EFSF) "was met with exceptionally strong demand with close to nine billion euros in orders received from investors around the world," it said. The bonds were sold with an average yield of 0.22 percent, meaning investors were prepared to accept very low returns for the relative safety of parking their cash with the EFSF fund. "Today's one-year bond has allowed us not only to complete the remaining 3.6 billion euros from this year's funding programme but also to gain a headstart for 2013," said the fund's chief financial officer, Christophe Frankel. Last week, the EFSF was compelled to postpone a planned auction of three-year bonds after Moody's downgraded France by one notch from its top rating. The move meant that EFSF's new long-term issuance -- currently rated Aaa by Moody's -- no longer satisfied the necessary criteria for selling debt, the agency explained. Long-term bond issues of the EFSF, the bailout fund set up to assist struggling eurozone countries such as Greece or Ireland, have to be fully backed by countries that enjoy a similar rating to its own top rating. France has dropped out of that exclusive club -- which now includes only Finland, the Netherlands, Germany and Luxembourg -- so the fund does not have sufficient guarantees to issue long-term debt. The fund said it would issue one-year bonds until the situation had been resolved.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

\exceptionally strong demand\ for eu bailout fund bonds \exceptionally strong demand\ for eu bailout fund bonds

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

\exceptionally strong demand\ for eu bailout fund bonds \exceptionally strong demand\ for eu bailout fund bonds

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday