Brussels, 24/10/2012 (Agence Europe) - On Wednesday 24 October, the European Commission issued a €3 billion benchmark bond with 15 years maturity. From the proceeds, €1 billion will be on-lent to Ireland and €2 billion to Portugal. The transaction was carried out under the European Financial Stabilisation Mechanism (EFSM). Interest rates have been set at 2.6%.
The EU had initially targeted a €2 billion to €3 billion bond but the strong order book of almost €6 billion, the...