Greece Ready To Borrow Money From Market Once Again

The Greek government, approaching the end of a second international bailout that has kept it afloat since 2010, plans a return to markets by selling 2 billion euros ($2.8 billion) of bonds, three officials said.

The decision has been made on the 2 billion-euro offering and only the issue of timing remains to be resolved, one Greek official said on condition of anonymity because the plans haven’t been made public. Another Greek official said this doesn’t exclude the possibility of further sales later.

Greek Finance Minister Yannis Stournaras said yesterday that market financing would complement Greece’s other efforts to line up a year of financing, a condition of unlocking money from the International Monetary Fund. Greece “fully satisfies” the 12-month funding condition, he said.

“A small issuance of bonds, three- or five-year bonds, in the first semester, somehow in the first semester of 2014, will also contribute to the financing needs of Greece,” Stournaras told reporters in Athens after a meeting of European Union finance ministers.

Bloomberg

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