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 – 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 19 December 2013

in € billion




Already disbursed Remaining amount available
Max. total1
Ireland 17.7 0 17.7
Portugal 24.8 1.2 26
Greece 133.6 10.1 144.6

- 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 48.2 1.82
502
 
Rest of Programme  50.8 8.3 59.1
 
Total 99 10.1 109.1

 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 The most recent European Commission report specifies that the total needs of the Greek banking sector amount to €48.2 bn.
3 Residual amounts committed were not used by Greece.
4
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
Weighted average maturity 20.8 years

PORTUGAL

(Availability period ends 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
25/08/2025
12/01/2012
1.7 8.6
04/02/2015  30/01/2035
19/01/2012 1.0 9.6
19/07/2026 19/07/2027
30/05/2012
3.5 13.1
31/05/2032 30/05/2032
30/05/2012
1.7 14.8
31/05/2032 30/05/2035
17/07/2012
1.5 16.3
19/07/2038 17/07/2038
17/07/2012
1.1 17.4
19/07/2038
17/07/2040
03/12/2012
0.8 18.2
04/12/2028
04/12/2028
07/02/2013 0.8 19.0 07/02/2022 07/02/2026
26/06/2013 1.05 20.05 not applicable (n.a.)  26/06/2033
26/06/2013 1.05 21.1 n.a. 26/06/2034
22/11/2013 3.7 24.8 n.a. 22/11/2033
Current weighted average maturity 20.75 years

GREECE

(Availability period ends on 31 December 2014)

             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 92.3

17/06/2042 5
19/12/2012
16.0 108.3
2023, 2024, 2025
- 6
31/01/2013
2.0 110.3

31/01/2043
28/02/2013
1.4 111.7


28/02/2043
28/02/2013
1.4 113.1

28/02/2044
29/04/2013
2.8 115.9

30/04/2032
17/05/2013
4.2 120.1

17/05/2043
30/05/2013
7.2 127.3
2024, 2025
- 7
25/06/2013 3.3 130.6
25/06/2045
31/07/2013 2.5 133.1 31/07/2048
18/12/2013 0.5 133.6 18/12/2050
Current weighted average maturity: 30.52 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 amontizes constantly over 20 years between 2023 and 2042
 3 Loan for bank recapitalization; amortizing between 2034-2039 and 2043-2046
 4 Loan amortizes constantly between 2044-2046
 5 Loan amortizes constantly between 2023-2042
 6 Loan for bank recapitalization; target WAM after roll-over is 38.06 years; before roll-over: 11.06 years
Loan for bank recapitalization; target WAM after roll-over is 39.5 years; before roll-over: 11.5 years
Current WAM assuming final maturity following the roll-over of disbursed portions to final maturity


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