High participation rate helps bond swap tick box
Greece continues debt management with swap of bonds worth 30 bln
Retail sales continue their rise in July as consumer confidence improves
Rating agencies concur in improved prospects for Greece
Fitch upgrades Greek rating to B-, sees debt sustainability improving
Greece completes first bond issue in three years, eyes more on way out of programme
Last round of Greek banks' recapitalisation drastically shifts shareholder structures
The introduction of Greek banks’ new shares for trading officially completed their last recapitalisation process. These shares largely resulted from the international bookbuilding process and the voluntary bond swap offers (LME).
In addition, two banks (NBG and Piraeus) received a total state aid of 5.4 billion, while NBG’s capital was also boosted by burden-sharing measures involving bail-in of state and US preference shares with an applied haircut of 71 and 70 percent respecti...
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