Memo: EU €3 billion 15-year bond for Ireland and Portugal meets with close to €6 billion investor demand

The European Union (EU) has issued a €3 billion benchmark bond with 15 years maturity. From the proceeds €1 billion will be on-lent to Ireland and €2 billion to Portugal, as part of their financial assistance packages and following to the successful completion of the recent reviews: seventh review mission to Ireland and fifth review mission to Portugal. The transaction was carried out by the European Commission on behalf of the EU under the European Financial Stabilisation Mechanism (EFSM).