EU Offers $6.7 Billion Bonds for Portugal, Ireland Bailouts
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The European Union is selling 4.75 billion euros ($6.7 billion) of 10-year bonds to help fund the bailouts of Ireland and Portugal.
The EU is offering the bonds through its European Financial Stabilisation Mechanism, or EFSM, according to three people with knowledge of the transaction, who declined to be identified before it’s completed. The deal is the third from the fund and follows Portugal’s request for rescue loans on April 7.