debt swap


Also found in: Financial.
Related to debt swap: Debt Equity Swap

debt swap

n
(Banking & Finance) See swap4
Translations
échange de créances
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Fitch assigned Greece a speculative B- rating, becoming the first major rating agency to lift the country out of default territory after the debt swap cut Athens' debt mountain by about 100 billion euros, or close to a third.
The ministers have also approved the country's debt swap with private creditors, including the use of collective action clauses.
Summary: ATHENS - Greece and its private creditors said on Saturday they were piecing together the final elements of a debt swap and expected to have a deal ready next week, essential for sealing a new bailout and avoiding an uncontrolled default.
00 Bank of Cyprus, on Tuesday posted a e1/4801 million net loss for the nine months of the year after taking provisions for a Greek sovereign debt swap.
She described Italian debt swap as timely assistance saying that Italy provided assistance in the times of need.
A debt swap could leave many unsecured debtholders with big losses.
About two weeks ago, the government launched a domestic debt swap initially targeting P60 billion in obligations.
Despite meeting German Chancellor Angela Merkel during his visit to Berlin in January, President Morsi was reported as being unable to convince her of the benefit of an Egyptian-German debt swap
Greece's parliament will endorse a debt swap with private bondholders on Thursday to help reduce the country's debt and secure an international bailout, despite new protests against the tough terms of the deal.
However, Alpha Bank, whose exposure to junk-rated Greek government bonds is only half of that of EFG Eurobank, wants to wait for the completion of a proposed debt swap plan, which is expected to substantially increase recapitalisation needs at the nation's banks.
The euro swung higher versus the dollar on Monday after recording losses in Asian trade, though the single currency is vulnerable to uncertainty over crucial talks on a Greek debt swap deal to avert a messy default, dealers said.
9 million euro first-half net loss after taking provisions on a Greek sovereign debt swap.