EFSF’s Regling Says First Bonds in Jan 2011 |
Following are comments by Klaus Regling, head of the European Financial Stability Facility (EFSF) during a visit to Singapore:
ON BOND ISSUE
The EFSF will issue bonds "in January next year".
"If everything goes to plan they will make a profit" in Germany.
"Most will probably be taken up in Europe" although, he added there was also significant interest in Asia and Middle East.
Ireland bonds will be disbursed over a three-year period, Regling said, but this will be "substantially front-loaded".
"The average loan maturity (in the whole Ireland support package) will be 7 and a half years."
The first issue is likely in January 2011 to be in "range of five to eight billion" euros.
"The 440 billion euros will be sufficient"
ON EURO SOLIDARITY
"There is no country in the Euro area that has any intention of leaving…there is no movement to leave the euro, even in the countries that have been hard hit"
ON EFSF'S CREDIT RATING
"I see no risk of us (EFSF) losing our AAA-rating even if we make full use of our finances."
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