By Simon Miller

The European Financial Stability Facility (EFSF) today placed a €3bn (£2.4bn) 3-year benchmark bond maturing on 01/06/2015 at a yield of 1.162%.

The bond received orders in excess of €4.5bn and the funds raised will be ised to support the finanical assistance programme for Ireland, Portugal and Greece.

Christophe Frankel, CFO and Deputy CEO of the facility commented: "Once again, EFSF has proved that it can successfully place a benchmark bond in a volatile market environment. This issue attracted some very large orders coming from new investors which shows that EFSF has become a major issuer in the SSA market."

Bank of America Merrill Lynch, Crédit Agricole CIB and Royal Bank of Scotland acted as joint lead managers for this issue and Deutsche Finanzagentur acted as Issuance Agent.

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