â¿¿The EU has not said what interest rate it will charge. Spain says the rate will be variable and depend on conditions in the money market. Spanish Economy Minister Luis de Guindos has said it would be under 4 percent.
â¿¿The average term of the loans will be 12.5 years, and the maximum 15.
â¿¿A first tranche of â¿¬30 billion euros will be made available by July 31. But it will be held in reserve by the bailout fund and disbursed only in the event of emergency. The size of the other tranches will be determined depending on the needs of the Spanish banks.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV