Greek that lack of financing channels, plan on Tuesday to issue a large-scale short-term bond, to meet the debt due by next Monday (20th) and other cash needs before the international creditors cast further assistance funds.
The short-term release bond release on Tuesday expected to maximum financing of € 5 billion. Although the Greek government finances is worrying, however, considering the short-term bonds is the collateral recognized by the European Central Bank, is expected that the auction will still get a good market demand. Greek banking sector eager to take advantage of emergency liquidity instruments of the European Central Bank, expected to actively subscribe to the bonds issued Tuesday.
If successful to raise € 5 billion, Greece will be able to repay the loan to the creditor and to meet the general financing needs. Greece have to repay the debt of 3.1 billion euros by next Monday, most of which is reimbursed to the European Central Bank.
The short-term release bond release on Tuesday expected to maximum financing of € 5 billion. Although the Greek government finances is worrying, however, considering the short-term bonds is the collateral recognized by the European Central Bank, is expected that the auction will still get a good market demand. Greek banking sector eager to take advantage of emergency liquidity instruments of the European Central Bank, expected to actively subscribe to the bonds issued Tuesday.
If successful to raise € 5 billion, Greece will be able to repay the loan to the creditor and to meet the general financing needs. Greece have to repay the debt of 3.1 billion euros by next Monday, most of which is reimbursed to the European Central Bank.
