Lending operations

A Financial Assistance Facility Agreement is signed by the EFSF and the beneficiary Member State establishing the financial terms of the support in compliance with the policy conditions.

Facilty agreements

Greece
Master Financial Assistance Facility Agreement (consolidated version incorporating first Amendment Agreement of 12/12/2012)
Second Amendment Agreement – Greece 
Third Amendment Agreement – Greece
Financial Assistance Facility Agreement – PSI LM Facility
Financial Assistance Facility Agreement – Bond Interest Facility

Ireland

Master Financial Assistance Facility Agreement – Ireland
Amendment Agreement - Ireland

Portugal

Master Financial Assistance Facility Agreement – Portugal
Amendment Agreement - Portugal

as of 27 February 2015

in € billion




Already disbursed Remaining amount available
Max. total1
Ireland 17.7 0 17.7
Portugal 26 0 26
Greece 130.9 0 143.6

- PSI participation2:
PSI sweetener 29.7 03 30
 
Accrued Interest 4.9 03 5.5
 
Total 34.6 0 35.5

  
- Second Programme: 
Bank recapitalisation

37.3

(amount originally disbursed: €48.2 bn)

02
48.2
 
Rest of Programme  59.0 0
60.8
 
Total 96.3
0
109.0

 1 As a temporary operation, EFSF provided the Eurosystem with bonds amounting to €35 billion as collateral during Greece's selective default period due to the PSI operation. These bonds were returned to the EFSF on 25 July 2012 and were cancelled on 3 August 2012.
2 On 27/02/2015, the Hellenic Financial Stability Fund (HFSF) redelivered €10.9 bn in bonds issued by the EFSF for the recapitalisation of Greek banks.
3 Residual amounts committed were not used by Greece.
 
Amounts disbursed to Ireland and Portugal are net amounts.

Loan details

IRELAND

(EFSF financial assistance programme concluded on 8 December 2013)

Disbursement Date
Disbursed amount (€ bn)
Cumulative disbursed amount (€bn)
 Initial final maturity
Revised final maturity
01/02/2011
1.9
1.9
18/07/2016 01/08/2032
01/02/2011 1.7
3.6
18/07/2016
01/08/2033
10/11/2011 0.9
4.5
04/02/2022
01/08/2030
10/11/2011
2.1
6.6
04/02/2022 25/07/2031
15/12/2011 1.0
7.6
23/08/2019 01/08/2030
12/01/2012 1.2
8.8

04/02/2015

01/08/2029
19/01/2012
0.5 9.3
19/07/2041
01/07/2034
03/04/2012
2.7
12.0
03/04/2037
01/08/2031
02/05/2013 0.8 12.8 02/05/2029 01/08/2029
18/06/2013 1.6 14.4 not applicable (n.a.) 
18/06/2042
27/09/2013 1 15.4 n.a. 27/09/2034
04/12/2013 2.3 17.7 n.a. 04/12/2033
Final weighted average maturity 20.8 years

PORTUGAL

(EFSF financial assistance programme concluded on 18 May 2014)

Disbursement date
Disbursed amount (€ bn)
Cumulative disbursed amount (€ bn)
Initial final maturity
Revised final maturity
22/06/2011 3.7 3.7
05/07/2021 01/07/2036
29/06/2011 2.2 5.9
05/12/2016 03/12/2025
20/12/2011
1.0 6.9
23/08/2025
23/08/2025
12/01/2012
1.7 8.6
04/02/2015  30/01/2035
19/01/2012 1.0 9.6
19/07/2026 18/07/2027
30/05/2012
3.5 13.1
30/05/2032 30/05/2032
30/05/2012
1.7 14.8
30/05/2032 30/05/2035
17/07/2012
1.5 16.3
17/07/2038 17/07/2038
17/07/2012
1.1 17.4
17/07/2038
17/07/2040
03/12/2012
0.8 18.2
03/12/2028
03/12/2028
07/02/2013 0.8 19.0 07/02/2022 07/02/2026
27/06/2013 1.05 20.05 not applicable (n.a.)  27/06/2033
27/06/2013 1.05 21.1 n.a. 27/06/2034
22/11/2013 3.7 24.8 n.a. 22/11/2033
28/04/2014 1.2 26 n.a. 28/04/2038
Final weighted average maturity 20.8 years

GREECE

(EFSF financial assistance programme expired on 30 June 2015)

             Disbursement date Disbursed amount (€ bn) Cumulative disbursed amount (€ bn)
Interim maturity before roll-over
 Final maturity   
09/03/2012 1
34.6
34.6

24/02/2042 2
19/03/2012
5.9 40.5

19/03/2047
10/04/2012
3.3 43.8

10/04/2041

19/04/2012
25.0 68.8

19/04/2046 3
10/05/2012
4.2 73.0

10/05/2042
28/06/2012
1.0 74.0

28/06/2040
17/12/2012
7.0 81.0

17/12/2046 4
17/12/2012
11.3 92.2

17/06/2042 5
19/12/2012
16.0 108.2
2022, 2023, 2024
- 6
31/01/2013
2.0 110.2

31/01/2043
28/02/2013
1.4 111.6


28/02/2043
28/02/2013
1.4 113.0

28/02/2044
29/04/2013
2.8 115.8

30/04/2032
17/05/2013
4.2 120.0

17/05/2043
30/05/2013
7.2 127.2

- 7
25/06/2013 3.3 130.5
25/06/2045
31/07/2013 2.5 133.0 31/07/2048
18/12/2013 0.5 133.5 18/12/2050
28/04/2014 6.3 139.8 28/04/2054
09/07/2014 1.0 140.8 09/07/2053
14/08/2014 1.0 141.8 14/08/2053
27/02/2015

-10.9

(redelivery of EFSF bonds not used by HFSF) 9

130.9

(Current outstanding loan amount)

Current weighted average maturity: 31.14 years 8

1 As a temporary operation, EFSF provided the Eurosystem with bonds amounting to €35 billion as collateral during Greece's selective default period due to the PSI operation. These bonds were returned to the EFSF on 25 July 2012 and were cancelled.
 2  PSI sweetener and accrued interest loan amortises constantly over 20 years between 2023 and 2042
 3 Loan for bank recapitalisation; amortising between 2034-2039 and 2043-2046
 4 Loan amortises constantly between 2044-2046
 5 Loan amortises constantly between 2023-2042
 6 Loan for bank recapitalisation; to be rolled into cash loans at interim maturities; €3.7 bn repaid on 27/02/2015
Loan for bank recapitalisation; repaid in full on 27/02/2015
Current WAM assuming final maturity following the roll-over of disbursed portions to final maturity
9 On 27/02/2015, the Hellenic Financial Stability Fund (HFSF) redelivered €10.9 bn in bonds issued by the EFSF for the recapitalisation of Greek banks. This comprised: a full repayment of the €7.2 bn disbursed on 30/05/2013; and a partial repayment of €3.7 bn of the loan tranche disbursed on 19/12/2012)


European Financial Stability Facility
Société Anonyme
6a, Circuit de la Foire Internationale, L-1347 Luxembourg
Grand Duchy of Luxembourg
R.C.S. Luxembourg B153414