The European Union (EU) placed on 29 September a € 1.1 billion bond with 7 years maturity, completing a successful series of EU bond issuances done over the last weeks. The operation, under the European Financial Stabilisation Mechanism (EFSM), was carried out by the European Commission on behalf of the EU. From the proceeds Ireland will receive € 500 million and Portugal € 600 million of loans as part of their financial assistance packages.
2011-12-10
Portugal To Receive 600 million euros Bailout in December
This seems to have been planed for some time, but I don't remember hearing about it anywhere:
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