Reuters: Greece considers the refinancing of 2012 bond issues

Thursday, September 21st, 2017
Last Update: 15:30
The Greek government contemplates 4-5 issues to replace 20 bonds that were issued in 2012, according to Reuters.Considering consolidating small bonds with face value of ~EU32b into a few benchmark issues while the move is still under discussion.

In addition, Greece will also boost cash buffer to as much as EU14b from ~EU9b through funds raised via new bond issues.

According to the same press reports, Greece is aiming to create buffer of EU12b-EU14b for 9-12month period after end of 3rd bailout showing that the country can service needs until at least mid-2019 in adverse scenario. Greece wants to issue at least 2 new bonds by end of Aug. 2018 or earlier depending on market conditions.

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