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The first bond to be issued by the European Financial Stability Facility (EFSF) will be admitted to trading on the Luxembourg Stock Exchange on 1 February 2011. This bond issue, which is guaranteed by fourteen EU Member States, is for an amount of EUR 5 billion and a term of 5 years with a final maturity on 18 July 2016. It will pay an annual coupon of 2.75% and will be issued at 99.302%. The majority of the proceeds of the issue will be used for the EU/IMF financial stability package for Ireland. This inaugural bond is the first tranche of a programme issue, the Guaranteed Debt Issuance Programme, which has been assigned a triple A rating by the three major credit rating agencies. Initial interest in this issue was particularly strong and the order book contained some 500...
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