A troubling chart from Thomson Reuters this morning, showing Spain facing $203.7bn maturing syndicated debt in the coming six years. That is roughly a fifth of the country’s annual gross domestic product (which was $261.5m for Q4 last year). Italy is second with $95.9bn over the same period. Greece – orange on the chart – is almost insignificant in context.

Chart courtesy of Thomson Reuters; source Thomson Reuters LPC/DealScan
Maturing loans are significant as new debt will be needed to plug the gap. Countries perceived as risky will pay a higher ‘new issue premium’, as a mooted deal in Greece is currently showing. Two questions: who will be these countries’ creditor (China?)? And what are the figures for the UK & US (I’m working on this one)?
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