Greece Mulls Swapping Bailout Loans with 50-year Bond Issue - Source
Monday, 07 October 2013
Greece is considering swapping a large part of its bailout loans with a 50-year government bond as a way to achieve debt relief once it achieves a primary budget surplus this year, Reuters reported, quoting an unnamed official.
"Among the proposals being examined at a technical level as part of debt relief measures is issuing a long-term bond with a maturity of up to 50 years to possibly replace the bilateral loans from the first bailout," Reuters quoted the official as saying.
He did not disclose the size of the bond issue under discussion.
The official also said the Greek government and its international creditors were not discussing for the time being the idea of swapping official sector debt with a long-term bond. "For this to happen, Greece must achieve a sustainable primary budget surplus to activate the agreement on further debt relief," the official said.