Arab Today, arab today \exceptionally strong demand\ for eu bailout fund bonds
Last Updated : GMT 02:11:14
Arab Today, arab today
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*

Arab Today, arab today \exceptionally strong demand\ for eu bailout fund bonds Arab Today, arab today \exceptionally strong demand\ for eu bailout fund bonds

 



Arab Today, arab today

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*

Arab Today, arab today \exceptionally strong demand\ for eu bailout fund bonds Arab Today, arab today \exceptionally strong demand\ for eu bailout fund bonds

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
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
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday