Tranche

The completion of the privatization of Greek natural gas network operator DESFA and resolving the issue of the Public Power Corporation's debts to RES (renewable energy source) companies, are the two main obstacles the government faces in its bid to implement the prior actions required by its international creditors to release a sub-tranche of 2.8 billion in bailout funds.

One of the four winners of a recent auction for nationwide television licenses, Yiannis Kalogritsas, on Monday sought an extension of 48 hours to pay the first tranche of the fee for the license, a request that was rejected by the Media Ministry, potentially paving the way for his disqualification and replacement by a runner-up in the competition.

The government faces a busy week with the latest multi-bill of reforms to go before a vote Tuesday and several loose ends that must be tied up before the country's creditors can sign off on the next loan sub-tranche worth 2.8 billion euros.

Disbursement of Greece's next bailout tranche will take place on Monday, a source in the Finance Ministry has told Kathimerini.

According to the same source, a compromise on the issue of non-performing loans is still elusive, but an agreement may be postponed after the payment of the 7.5 billion-euro loan.

Bulgaria won't issue further Eurobonds this year after successfully issuing a EUR 1.994 B dual-tranche bond earlier this week, GlobalCapital has reported.

The deal was consisting of a EUR 1.144 B seven-year tranche and a EUR 850 M 12-year tranche.

Bulgaria is selling a EUR 1.994 B dual-tranche bond, Reuters reported on Monday, citing a lead manager.

The transaction comprises a EUR 1.144 B seven-year tranche and a EUR 850 M 12-year tranche, the newswire said.

Bulgaria has won the top spot in the Most Impressive Borrower in Central & Eastern Europe category of GlobalCapital Bond Awards 2015, the Finance Ministry in Sofia announced on Thursday.

Turkish lender Yap? Kredi said on May 4 it had made a 364-day and 367-day syndicated loan agreement comprised of a U.S. dollar tranche of $513 million and a euro tranche of 835 million euros.

?This syndication is the successful refinancing of Yap? Kredi?s existing syndication loan signed in April 2014 with a roll-over ratio of above 114 percent,? the bank said in a statement. 

Greek Finance Minister Yanis Varoufakis said on Thursday that his government was not ready to sign any deal just to get the next loan tranche from its creditors but needs to agree an appropriate level for its primary surplus, an investment package and a serious discussion about debt.

The three bonds newly issued under Bulgaria's Global medium-term programme have performed extremely well on the secondary market.