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Response to Demeter (Reply #43)

Mon Aug 13, 2012, 02:55 PM

44. Greece to issue T-bills to pay maturing bond

http://www.reuters.com/article/2012/08/07/greece-funding-tbills-idUSL6E8J78PN20120807

Greece will issue additional T-bills to pay a government bond that matures later this month and avoid default while it awaits a delayed tranche of aid, a government official said on Tuesday.

Cash-strapped and behind targets agreed under a 130 billion euro ($160.4 billion) financial rescue package, Athens faces a 3.2 billion euro bond maturity on Aug. 20. The bond is held by the European Central Bank.

"There will be an announcement on Friday on the amount and details," the official told Reuters.

The additional sale of short-term debt will come on top of a three-month T-bill auction next week to roll over a previous 1.6 billion euro issue. Shut out of bond markets, Greece issues T-bills on a monthly basis to refund maturing short-term paper...

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Tansy_Gold Aug 2012 OP
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LineLineNew Reply Greece to issue T-bills to pay maturing bond
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