Business & Finance

Greece to repay 436mn euros in maturing debt

Published May 15, 2012 Updated May 15, 2012 11:10am

ATHENS: Greece will repay 436 million euros in maturing debt Tuesday, covering private creditors who had refused to take part in an unprecedented write-down under an EU-IMF bailout, a government source said.

As part of an EU-IMF bailout, private creditors accepted a massive loss on their holdings of Greek government bonds, wiping out more than 100 billion euros ($130 billion) of the country's 350-billion-euros debt mountain, but a small number rejected the deal, leaving them uncertain of being repaid.

Copyright AFP (Agence France-Presse), 2012