Hellenic-Co-op deal to require €1.5bn in government bonds

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Hellenic-Co-op deal to require €1.5bn in...
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By Stelios Orphanides

Hellenic Bank will receive almost €1.5m in government bonds as part of the agreement to acquire the Cyprus Cooperative Bank’s operations, Haravgi reported on Friday without citing a source.

The government will issue a €650m bond in exchange to loans granted to the local administration which Hellenic does not wish to acquire, Haravgi, the Akel-affiliated newspaper said on its website on Friday. Hellenic will receive another €800m bond in exchange to loans that are likely to become non-performing.

On Friday morning, a...


This article was automatically added to our system 15-6-2018

Hellenic-Co-op deal to require €1.5bn in government bonds


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