Bloomberg News

Spain Bank Bailout Loan Carries 2.5% Interest Rate, ABC Reports

July 16, 2012

The European Union loan of as much as 100 billion euros ($122.3 billion) to bail out Spanish banks will have a 30-year maturity and an interest rate of 2.5 percent, ABC newspaper reported, without saying how it got the information.

Spanish Economy Minister Luis de Guindos has the terms, which will include a 10-year grace period, “practically agreed” but the final conditions will not be known until July 20 when the final bailout agreement is scheduled to be signed by European Union finance ministers, the newspaper added.

To contact the reporter on this story: Sharon Smyth in Madrid at ssmyth2@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net


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