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Eurozone rescue fund sells largest long-term bond in 2 years

Xinhua, January 26, 2017 Adjust font size:

The eurozone's rescue fund on Wednesday sold its largest long-term bond since 2014, two days after it approved short-term debt relief measures for Greece.

The European Stability Mechanism (ESM), the European Union (EU) agency that provides financial assistance to its eurozone member states, raised 3.5 billion euros for a 30-year bond, its first long-term issue this year and the largest since 2014.

"The ESM had an excellent start to the year today. This was the first 30-year benchmark in our market this year, and the largest since 2014," said Siegfried Ruhl, ESM head of funding.

The ESM on Monday approved short-term debt relief measures for Greece.

The approval and the ongoing bailout program for Greece, which is carried by the eurozone and ends in mid-2018, means the ESM will borrow more funds from the markets than it originally planned. Endit