EFSF Transfers €7.2 Billion to Greece for Recapitalization of the Banking Sector
According to the press release by the EFSF, “The European Financial Stability Facility (EFSF) disbursed today €7.2 billion to Greece for the recapitalisation of the banking sector.
Klaus Regling, EFSF CEO said: ‘The funds transferred to Greece should help to create a healthy and functioning financial sector, which is a precondition for the recovery of the Greek real economy.’
This amount was transferred via a cashless operation in two separate series: €3.6 billion in 11-year Floating Rating Notes (FRN) and €3.6 billion in 12-year FRN.
Greece has now received a total of €48.2 billion in EFSF bonds out of the €50 billion committed for the recapitalisation of its banking sector. The EFSF’s total commitment for financial assistance to Greece is €144.6 billion, out of which €127.2 billion has already been disbursed.”
Read more: EFSF Website
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