(For more on the euro region’s debt crisis, see EXT4.)
Nov. 13 (Bloomberg) -- The European Financial Stability Facility denied a Sunday Telegraph report that it spent more than 100 million euros ($135 million) buying its own bonds after failing to achieve its funding target at a sale last week.
The London-based newspaper said in a report today, citing unidentified people, that banks managing the sale were able to find demand for about 2.7 billion euros of the 3 billion-euro sale of 10-year bonds, the proceeds of which will be used to help finance the rescue of Ireland.
The “EFSF did not buy its own bonds,” Christof Roche, a spokesman for the Luxembourg-based fund, said in an e-mail today. The “book exceeded the 3 billion euros Ireland had requested.”
--Editors: Raj Rajendran, Amanda Jordan.
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