THE EU Commission has raised a further €3.4 billion for Ireland’s bailout but at a rising interest rate, bringing the total raised so far this year by European bodies to some €13.4 billion.
The commission said its bailout fund – the European Financial Stability Mechanism (EFSM) – raised the money at an issuance spread fixed at mid-swap plus 8 basis points. This was “at the tight end of the initial price guidance”, it said.
The commission said its bailout fund – the European Financial Stability Mechanism (EFSM) – raised the money at an issuance spread fixed at mid-swap plus 8 basis points. This was “at the tight end of the initial price guidance”, it said.
