Tuesday April 21, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece to pay May 15 bond

Greece will pay the remaining holders of a bond that matures on May 15, avoiding default on the first issue to expire after the biggest sovereign debt swap in history, a government official said on Tuesday.

Greece completed a huge debt restructuring in early March, swapping a nominal amount of 177 billion euros ($227.23 billion)of government paper held by private creditors for new securities as part of its second rescue package.

A few investors held out, however, rejecting the swap offer accepted by 96.9 percent of bondholders who suffered a real loss of 75 percent. That left about 6 billion euros' worth of bonds that the Greek government must decide how to handle.

The May 15 Hellenic Republic note was partially exchanged under the swap, with a remaining amount of 430 million euros to be serviced. It pays a coupon based on three-month Euribor +8 basis points.

"The bond will be paid,» the official, who did not want to be named, told Reuters.

The official did not say why the government had decided to repay the bond or what Greece would do for remaining holdouts on other bonds. [Reuters]

ekathimerini.com , Tuesday May 15, 2012 (11:58)  
Pension and lump sum cuts to be frozen
Eldorado Gold appeals to Council of State over ministry ‘ambivalence’
Radical measures against illegal economy proposed at Tax Forum
ECB: Cash support has its limits
Minister scraps most civil service assessment measures in new draft bill
Public sector workers will be rewarded for their performance in a vote by their colleagues and personal interviews will play a secondary role to career records, according to a bill being dra...
Government takes state bodies´ cash reserves to meet needs
With pressure growing on state coffers as cash reserves run low without any immediate prospect for the release of rescue loans, the government on Monday signed a legal degree obliging state ...
Inside News
BASKETBALL
Panathinaikos recovers to beat CSKA for 2-1
Three-pointer master Panathinaikos had the last laugh at the end of Game 3 of its series with CSKA Moscow on Monday winning 86-85 and reducing the Russians' lead to 2-1 in the best-of-five p...
GYMNASTICS
Petrounias wins gold in Europeans
Lefteris Petrounias won his first gold medal in a European Artistic Gymnastics Championship on Saturday finishing first in the rings at Montpellier in France. Petrounias was impeccable in th...
Inside Sports
COMMENTARY
Understanding Greek drama´s latest twists
With negotiations faltering, the rhetoric intensifying and a daunting payment schedule ahead, there is mounting concern that the latest disagreements over Greece may be more than just anothe...
COMMENTARY
The price of compromise
The representatives of the middle-class political world made plenty of compromises over the years and now we are paying the price. The current government’s appointment of failed politicos, u...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Panathinaikos recovers to beat CSKA for 2-1
2. Pension and lump sum cuts to be frozen
3. Eldorado Gold appeals to Council of State over ministry ‘ambivalence’
4. Radical measures against illegal economy proposed at Tax Forum
5. ECB: Cash support has its limits
6. Minister scraps most civil service assessment measures in new draft bill
more news
Today
This Week
1. Varoufakis warns of Grexit contagion
2. Finns must end squabbles over Greece and fix own woes, Rehn says
3. Greek banks low on refinancing collateral, Noyer tells Le Figaro
4. Euro area seeks Greece roadmap to May agreement to avoid default
5. Understanding Greek drama's latest twists
6. US and Turkey express concern about possible early release of N17's Xeros
Today
This Week
1. Quarantine for Greek bank subsidiaries in neighboring countries
2. Greek finance ministry hits back at German newspaper report
3. Time to get serious
4. Putting off payments led to Q1 budget primary surplus
5. Obama calls for flexibility in Greek reform talks in brief exchange with Varoufakis
6. EC's Dombrovskis says Greek talks complicated, still lots of work to do
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.