Greece plans 4.5 billion euro bond rollover to plug funding gap- finmin

Reuters

ATHENS, Oct 14 (Reuters) - Greece plans to roll over about4.5 billion euros of bonds maturing in March next year to partlyplug a funding shortfall, its finance minister told a Greeknewspaper on Monday.

"We are thinking of rolling over the bonds issued by thefinance ministry in exchange for preferred shares from banks,about 4.5 billion euros. This means covering a big part of thefunding gap," Finance Minister Yannis Stournaras toldNaftemporiki financial daily in an interview.

Under its latest bailout programme, Athens will be financeduntil the second half of 2014, when it hopes to tap the bondmarkets, from which it has been excluded since 2010.

The IMF and Greece estimate that the country faces a fundinggap of nearly 11 billion euros for 2014-15.

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