LONDON (MNI) – Greece is planning to sell E600 million in 26-week
T-Bills and E600 million in 52-week T-Bills on April 13, said the Public
Debt Management Agency (PDMA) in an e-mailed statement Friday.
The T-Bill sales come ahead of the heavy slew of redemptions
payments that Athens needs to fund, including E985 million in T-bill
redemptions on Apr 13 and E1.28 billion in T-bill redemptions on Apr 16.
In addition, the country faces E8.22 billion in bond redemptions on
Apr 20, E1.585 billion in T-bill redemptions on Apr 23, a E2.278 billion
coupon payment on May 10 and E8.086 billion in bond redemption on May
19. The PDMA debt chief Petros Christodoulou has already hinted that
April’s funding needs are taken care of, but that the country needs to
raise E11.6 billion by May.
Christodoulou added that Greece will soon do a roadshow in Asia and
the U.S. Soon after that, at the end of April or the very beginning of
May, “we could be in the market with a global bond deal in dollars,” he
said.
The debt chief also said that beyond May, PDMA needs to raise an
additional E32 billion in funding for the year, which will bring it
roughly to the E54.0 billion target, given that E23.44 billion worth of
bonds & T-bills have already been sold so far in 2010.
–London newsroom: 00 44 20 7862 7494; e-mail: nshamim@marketnews.com
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