Memo: EU successfully issued long-term bond with 30y maturity, funding loans of € 3 billion for Ireland and Portugal

On the back of strong and wide spread investor demand the European Union (EU) has placed a €3 billion bond with 30 years maturity; a statement of market confidence to the EU. The operation was carried out by the European Commission on behalf of the EU under the European Financial Stabilisation Mechanism (EFSM). From the proceeds Ireland and Portugal will receive back-to-back €1.5 billion each as part of their financial assistance packages.