The European Financial Stability Facility (EFSF) has appointed banks for a sale of bonds to help finance a bailout for Ireland. Citigroup, HSBC Holdings and Societe Generale are managing the issue.
The issue is expected to be worth €3-5 billion, and is due to mature in July 2016. The EFSF will provide as much as €17.7 billion in 2011 and 2012 for financial assistance to Ireland. Luxembourg-based EFSF will use the proceeds to make loans to debt-laden euro nations.
Click here for the release fromEFSF.