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Greece's budget deficit as a percentage of its economic output is currently four times the E.U. limit and it may need help refinancing 22 billion euros ($29.9 billion) worth of bonds maturing in April and May.
If the Greek government does hit a point where it is unable to raise money through the debt markets or needs help refinancing (as Dubai did with creditors late last year), it will almost certainly get a backstop from the European Central Bank, says IHS Global Insight's head of sovereign risk, Jan Randolph.
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One option might be a new lending facility, operated by the European Central Bank but with the explicit backing of euro zone governments, to help refinance illiquid assets, it said.
India's Tata Motors set up a scheme to raise deposits from the public (which should help refinance its acquisitions of Jaguar and Land Rover).
The South Korean government is stepping in to help refinance bonds issued by two giant companies in the Hyundai group that can no longer borrow from commercial banks.
The New Jersey Turnpike Authority last week closed the sale of $1.9 billion in bonds that will help refinance debt and finance highway improvements.
The New Jersey Turnpike Authority completed the sale of $1.46 billion in fixed-rate bonds this week that will help refinance its debt and pay for highway improvements.
A deputy prime minister, Igor I. Sechin, said energy companies including TNK-BP, partly owned by Alfa, would receive $9 billion to help refinance Western bank debt.
It will also extend the Small Business Administration's program to help refinance short-term commercial real estate loans into longer term loans, and it reauthorizes the Export-Import Bank, a provision that some conservatives oppose.
Freescale has become the latest company owned by buyout firms to pursue an initial offering, as the private equity industry seeks to take advantage of improving market conditions to sell their holdings or help refinance their companies.
Representative Barney Frank, Democrat of Massachusetts and chairman of the House Financial Services Committee, proposed a bill this week that would provide $10 billion for the Federal Housing Administration to help refinance as many as one million distressed subprime loans with cheaper government-insured loans.
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