Greece names joint dealers for bonds swap
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Xinhua, July 28, 2011
Greece named on Wednesday the joint dealer-managers for the voluntary Greek bonds exchange agreed in the latest EU summit in Brussels last week, due to start this August.
BNP-Paribas, Deutsche Bank and HSBC were appointed as joint dealer-managers for the implementation of the private sector involvement under the terms of the second bailout pact to support Greece overcome an acute debt crisis, announced the Greek Finance Ministry in a press release.
A team of experts of the International Finance Institute (IIF) is expected to hold talks with Greek officials on Thursday in Athens regarding the procedure that will be launched this August, according to Greek Finance officials.
In the meantime, a technical group of EU/International Monetary Fund (IMF) experts started on Wednesday a new round of meetings in Athens with local officials on the progress of the austerity, reform and privatization program to exit the crisis ahead of the release of the next tranche of EU/IMF aid to Greece this autumn.
The delegation of EU/IMF representatives will visit Greece in mid-August for the regular review of Greek finance ahead of the release of the funds that reach up to eight billion euros (11.61 billion U.S. dollars) this time.
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