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17/01/2012
Euro Stability Bond Auction 'Successful'
An auction by the authority overseeing Euro recovery has announced it has attracted €4.6 billion in bids despite being credit downgraded hours beforehand. On Tuesday, the European Financial Stability Facility (EFSF) held a six-month auction on it's current holdings, which they said had been met with "very strong demand".
It is EFSF’s second bill auction. The first, a less successful three-month bill auction, was held in December of last year.
Christophe Frankel, CFO and Deputy CEO commented “the success of today’s auction confirms investors’ confidence in EFSF as a high quality issuer. As we establish our short-term bill programme, we will now be holding regular auctions focussing on 3-, 6- and 12-month tenors”.
The auction came only hours after credit agency Standard & Poor's downgraded the fund from its top rating.
However, EFSF chief Klaus Regling has said the downgrade would have little impact on operations and expressed confidence that investors around the world will keep buying the fund's bonds.
(DW)
It is EFSF’s second bill auction. The first, a less successful three-month bill auction, was held in December of last year.
Christophe Frankel, CFO and Deputy CEO commented “the success of today’s auction confirms investors’ confidence in EFSF as a high quality issuer. As we establish our short-term bill programme, we will now be holding regular auctions focussing on 3-, 6- and 12-month tenors”.
The auction came only hours after credit agency Standard & Poor's downgraded the fund from its top rating.
However, EFSF chief Klaus Regling has said the downgrade would have little impact on operations and expressed confidence that investors around the world will keep buying the fund's bonds.
(DW)
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Ireland WeatherToday:Some low cloud lingering in the north and west through the day, although cloud should burn back to the coast as the day goes on. Elsewhere some good sunny spells with very little cloud. Warm with light winds. Maximum temperature 22 °C.Tonight:A sunny evening for most except where cloud lingers along the north coast. Cloud will increase for a lot of areas overnight with mist and fog patches developing. Minimum temperature 7 °C.
