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Home arrow About Us arrow Embassy of Greece in London arrow News arrow Greece says debt buy-back programme offers total 31.9 bln euros

Greece says debt buy-back programme offers total 31.9 bln euros

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The Greek authorities on Wednesday said they have received offers worth 31.9 billion euros in a book-building process of a debt buy back programme which ended on Tuesday.
Greece's Public Debt Management Organization, in a statement, said that the offered bonds were secured with six-month securities, worth 11.29 billion euros, of the European Financial Stability Fund (EFSF), while the average repurchase price was set at 33.8 cents per euro nominal value of the Greek bonds.

The statement stressed that the Greek state plans to accept the offers in total if the EFSF agreed to raise its funding of the programme by 1.29 billion euros. Settlement date is set for Tuesday, 18 December.

Eurogroup to decide on the release of aid tranche to Greece

The European Commission expects that a decision on the release of an aid tranche to
Greece will be reached during Thursday’s Eurogroup, a Commission spokesman said here on Wednesday.

Simon O’Connor, spokesman for EU Commissioner Olli Rehn, declined to comment on the outcome of a Greek debt buy back programme, however, the details of which were examined during Tuesday’s Eurogroup’s teleconference.

Germany favours release of aid tranche to Greece‏

The German government is in favour of releasing the next tranche of an aid loan to Greece following the successful outcome of a Greek debt buyback programe, German Finance Minister Wolfgang Schaeuble said in a letter to the German Parliament, according to a Reuters report from the German capital. The letter stressed that amendments made in a Greek rescue programe and the success of a debt buyback programe meant that the stability level of the Greek public debt was such that “the German government favors the release of the next tranche to Greece”.

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