Wednesday April 1, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Seven-year bond by November

 Govít plans for another debt issue to ensure cash flow regardless of whether loan tranches come through

By Sotiris Nikas

The government intends to go ahead with the issue of a new, seven-year bond as well as shorter-term papers that will allow Athens to enhance the Greek bond range and draw 3 to 4 billion euros by the end of the year.

A senior Finance Ministry official said on Wednesday in Paris that Greece is expected to tap the markets with seven-year bonds by the end of 2014, as conditions are good and the country has regained the confidence of investors.

Regarding the funding gap foreseen in the next 12 months, the same official noted that Athens is no longer worried as the problem was solved after Greece returned to the markets. He added that the first time the country tapped the market this year, in April, was the turning point regarding investorsí perceptions of the Greek economy.

The ministry has already drafted an action plan with a clear timetable, which starts next week with the reissuing of this yearís three- and five-year bonds to replace some of the three- and six-month treasury bills worth between 1 and 1.5 billion euros. This will allow Greek banks to purchase new Greek bonds and start getting active in the secondary bond market, thereby supporting Greek bonds.

In the next few weeks the state will proceed with a new issue of 18-month T-bills, as the Finance Ministry has identified strong interest among investors. This will be followed by the issue of a new seven-year bond, likely by mid-November. This issue will secure the stateís cash flow, even in the worst-case scenario of inconclusive negotiations with the countryís creditors this fall and the International Monetary Fund postponing the disbursement of a loan tranche.

With the issue of a seven-year bond added to the three- and five-year papers, Greece will have completed the range of short- and medium-term bonds in its market, so that the next step will be the issue of a new 10-year bond, though not within 2014.

Of course all this planning hinges on the condition there will be no deterioration in the countryís financial conditions, either through the negotiations with its creditors or negative developments in Europe.

ekathimerini.com , Wednesday September 3, 2014 (22:47)  
Business sentiment in decline
Ministry headache over T-bills
Lafazanis reaches preliminary energy package deal in Russia
Bank recap cash canít be used for other purposes
Finance Ministry officials to discuss talks progress as EU pushes for action
After several days of talks between representatives of Greeceís government and its creditors in Brussels on a proposed list of economic reforms, eurozone finance ministry officials are to di...
Trial of suspects in Salamina torture case starts
The trial of four men accused of torturing an Egyptian bakery worker on the island of Salamina in the summer of 2012 is to resume on April 30 after the victim, Walid Talb, and several witnes...
Inside News
BASKETBALL
AEK could get a wild card to the Euroleague
AEK shows capable of climbing as high as third in the Basket League, as its 16-point home win over third-placed Aris on Sunday confirmed it can challenge both Aris and PAOK to the first spot...
SOCCER
Cyprus soccer eyes reunion after 60-year divorce
Turkish Cypriot soccer officials on Monday vowed to press ahead with attempts to reunite with the Cyprus Football Association, (CFA), triggering a political storm on the ethnically-split isl...
Inside Sports
COMMENTARY
Amateur antics or overstepping the mark?
There are 149 plus two reasons why those who have been watching SYRIZAís progress since its start cannot and never will be able to stomach the leftist partyís coalition with Independent Gree...
EDITORIAL
A pointless debate
Mondayís parliamentary debate between the countryís political leaders left a lot to be desired. There was no information whatsoever about the coalition governmentís proposed reforms or the p...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
†RECENT NEWS
1. AEK could get a wild card to the Euroleague
2. Business sentiment in decline
3. Ministry headache over T-bills
4. Lafazanis reaches preliminary energy package deal in Russia
5. Bank recap cash canít be used for other purposes
6. EIB said to have frozen funding
more news
Today
This Week
1. Amateur antics or overstepping the mark?
2. Parliamentary speaker prompts ND walkout, anger from PASOK, Potami
3. Investment guru Mark Mobius rules out Grexit, advises sell-offs
4. Greece, EU/IMF lenders end round of technical talks without deal
5. A pointless debate
6. Greek government proposes measures worth 3.7 bln
Today
This Week
1. Next Monday is D-Day for state funds
2. Eurogroup unlikely to be held soon to discuss Greek reforms
3. Moscow expects progress from Tsipras visit
4. Some more equal than others
5. Greece to present reforms by Monday, says gov't spokesman [Update]
6. Greece optimistic on deal with euro area next week
†††Find us ...
††... on
Twitter
†† ††... on Facebook ††
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.