LONDON—The European Financial Stability Facility—the euro zone's temporary sovereign bailout fund—set final terms on its first bond to be issued in support of the Portuguese aid program.
Demand for the €5 billion ($7.22 billion), 10-year bond was solid, with order books reaching €8 billion, one of the banks running the sale said.
The bailout fund, which consists of €440 billion in loan guarantees, is one of the facilities set up to help support fiscally stressed European countries. It already has issued bonds for Ireland's bailout package, and functions alongside the European Financial Stabilization Mechanism—a €60 billion lending facility funded by the European Commission using the EU budget as collateral.
Demand for the €5 billion ($7.22 billion), 10-year bond was solid, with order books reaching €8 billion, one of the banks running the sale said.
The bailout fund, which consists of €440 billion in loan guarantees, is one of the facilities set up to help support fiscally stressed European countries. It already has issued bonds for Ireland's bailout package, and functions alongside the European Financial Stabilization Mechanism—a €60 billion lending facility funded by the European Commission using the EU budget as collateral.
