EFSF Denies Report It Spent 100 Million Euros to Buy Own Bonds
This article is for subscribers only.
The European Financial Stability Facility denied a Sunday Telegraph report that it spent more than 100 million euros ($135 million) buying its own bonds after failing to achieve its funding target at a sale last week.
The London-based newspaper said in a report today, citing unidentified people, that banks managing the sale were able to find demand for about 2.7 billion euros of the 3 billion-euro sale of 10-year bonds, the proceeds of which will be used to help finance the rescue of Ireland.