Eurobonds swapped

64 percent of debt notes maturing in 2012 exchanged for lower interest rates

The government successfully completed the exchange of Eurobonds maturing in 2012 with notes of longer maturity. The total value of issued notes amounted to $875 million and €445 million. The swap lead to the exchange of 64.3 percent of the total notes maturing in 2012.

A total of $668.72 million and €420.94 million notes were exchanged with longer maturity notes. The government also issued new notes for a cash amount of $206 million and €24.058 million.

Total notes issued reached $1.46 billion and were broken down as follows:

A total of $375 million in bonds maturing in March with a coupon rate of 7.5 percent were swapped for notes maturing in November 2026 with a coupon rate of 6.6 percent.

A total of €445 million in bonds maturing in April with a coupon rate of 5.87 percent were exchanged for notes maturing in November 2018 with a coupon rate of 5.35 percent.

A total of $500 million in bonds maturing in September with a coupon rate of 7.5 percent were swapped for notes maturing in November 2019 with a coupon rate of 5.45 percent.