Catalan Government may extend bond amount to 3,000 million euros

Various banks and savings banks are asking the Catalan Government to extend the total bond amount to 3,000 million euros. The Catalan Ministry of Economy will make the decision whether or not to extend the amount on Friday. The Catalan Government's debt bonds were issued for an initial amount of 1,890 million euros and further extended to 2,500 million euros due to their massive purchase by Catalan citizens

CNA / Xavier Alsinet

November 9, 2010 10:30 PM

Barcelona (ACN).- This Tuesday the Catalan Government announced that it may once again extend bond amounts, now to a total of 3,000 million euros. The total bond amount is currently at 2,500 million euros. The decision comes after various banks and savings banks have demanded that the Ministry of Economy and Finance raise the total bond amount. It will be discussed on Friday after the participating financial entities subscription deadline has ended. The Catalan Minister for Public Works, Joaquim Nadal, while acting as Government’s spokesperson, announced the proposed bond extension during a cabinet meeting.

Nadal said the decision to extend the bond amount will be made by the Ministry on Friday. Nadal also underlined the “good response” that the issuing of Catalan Government’s debt bonds has received by the public. The Catalan Government must now “contemplate” extending the bond amount.