Feb. 12, 2012, 10:28 a.m. EST EFSF will provide sizeable part of Greek bailout
By Tom Fairless FRANKFURT (MarketWatch) -- The euro-zone's temporary rescue fund will supply a "significant" portion of the funds needed for Greece's second bailout, and expects strong demand for its bonds from Asian investors, according to a preview of an interview with the rescue fund's deputy chief executive to be published Monday.
The European Financial Stability Facility "will provide a significant part of the sum, partly in the coming months, partly later," Christophe Frankel told German magazine WirtschaftsWoche. "We won't overload the markets," he said.
Asian investors are "positive" about the EFSF's bonds and the disproportionate share of European investors in the rescue fund's January bond sale isn't representative, Frankel said.
"Asia needs a stable euro-zone, it is a central market, and the euro offers an alternative to the dollar," he said. "We aren't afraid that the Asians will turn away. What we hear is: 'Do more, do it faster.'"
Frankel also said the EFSF could suggest maturities of more than 10 years, and up to 30 years, on its bonds to investors after negotiations on Greece's second bailout are concluded.
*** PLSY DYOR
good luck to all
FML Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)