EFSF Debut Bond Rises on 1st Day Amid ‘Blowout’ Investor Demand
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The European Financial Stability Facility’s debut 5 billion-euro ($6.9 billion) bond to help pay for Ireland’s bailout rose in the first day of trading after investors bid for nine times the securities on offer.
The 2.75 percent notes due July 2016 climbed 0.24 cent on the euro to 99.54 cents as of 1:15 p.m. in London, according to National Australia Bank Ltd. bid prices on Bloomberg. The yield fell to the midswap rate, from 6 basis points over the benchmark when the notes were issued yesterday.