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Early repayment to the IMF concluded

GREECE
  • Bloomberg has reported that Greece has concluded a E3.3bln early repayment to the IMF.
  • Note that this has been expected for some time and the ESM/EFSF formally issued a waiver to allow this to happen on 4 March (under the terms of the bailout, payments can only be made to the IMF if proportional payments are made to the ESM/EFSF concurrently.
  • A large part of this repayment is likely to have been assisted by the E2.5bln 30-year GGB syndication held yesterday. This was the first time since the financial crisis that Greece has issued 30-year debt to the market.

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