Eurozone's EFSF to issue 3 bn in bonds for Ireland, Portugal

3rd January 2012, Comments 0 comments

The European Financial Stability Facility, the eurozone bailout fund, said Tuesday it will "shortly" issue three billion euros in three-year bonds to help financially struggling Ireland and Portugal.

The EFSF said in a statement it had appointed as lead managers Credit Suisse, Deutsche Bank and Societe Generale Corporate & Investment Banking for its first three-year bond.

"We will continue to provide our investors with opportunities across the full yield curve in 2012," said EFSF deputy chief Christophe Frankel.

The 440-billion-euro EFSF was created in May 2010 to protect vulnerable eurozone nations after Greece was bailed out by the European Union and the IMF. The temporary fund is to be replaced this year by the European Stability Mechanism (ESM).

© 2012 AFP

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