A thing that is almost like Greek debt math

	A	B	C	D	E	F	G	H	I	J
1
2	Assumptions			Results
3	Change in interest margin (bilateral loans)	1.00%		Total principal amount (EUR bn)	170.5
4	Change in guarantee fee (EFSF)	0.10%		PV of payments (pre-modification)	66.0
5	Maturity extension	15		PV of payments (post-modification)	35.9
6	Interest deferral (EFSF)	10
7				Haircut (EUR bn)	30.1
8	PV rate (pre-modification)	16.25%		Haircut (% of par)	18%
9	PV rate (post-modification)	13.00%		Haircut (% of value)	46%
10	Change in swap rates	0.12%
11	Today	2013
12
13
14
15
16
17		Old EFSF loans
18		PSI	Accrued interest	tranche 1	tranche 2	tranche 3	tranche 4	tranche 5	GLF - bilateral	New EFSF loans
19
20	Amount outstanding (bn EUR)	29.7	4.8	5.9	3.3	25	4.2	1	52.9	43.7
21	Fixed rate	2.94%	2.94%	2.87%	2.515%	2.87%	2.515%	2.515%	float	2.515%
22	Floating-rate margin								0.5%
23	Assumed swap rate	2.462%	2.453%	2.419%	2.285%	1.964%	2.285%	2.285%	1.022%	2.285%
24	Guarantee fee	0%	0%	0%	0%	0%	0%	0%		0%
25	--> interest rate	2.94%	2.94%	2.87%	2.515%	2.87%	2.515%	2.515%	1.522%	2.515%
26	Final maturity	2057	2052	2047	2042	2047	2042	2042	2032	2042
27	Amortization starts	2023	2023	2047	2042	2023	2042	2042	2032	2027
28	Interest starts	2023	2023	2023	2023	2023	2023	2023	2013	2023
29
30
31
32
33	Principal payments
34	2013	0	0	0	0	0	0	0	0	0
35	2014	0	0	0	0	0	0	0	0	0
36	2015	0	0	0	0	0	0	0	0	0
37	2016	0	0	0	0	0	0	0	0	0
38	2017	0	0	0	0	0	0	0	0	0
39	2018	0	0	0	0	0	0	0	0	0
40	2019	0	0	0	0	0	0	0	0	0
41	2020	0	0	0	0	0	0	0	0	0
42	2021	0	0	0	0	0	0	0	0	0
43	2022	0	0	0	0	0	0	0	0	0
44	2023	0.8485714286	0.16	0	0	1	0	0	0	0
45	2024	0.8485714286	0.16	0	0	1	0	0	0	0
46	2025	0.8485714286	0.16	0	0	1	0	0	0	0
47	2026	0.8485714286	0.16	0	0	1	0	0	0	0
48	2027	0.8485714286	0.16	0	0	1	0	0	0	2.73125
49	2028	0.8485714286	0.16	0	0	1	0	0	0	2.73125
50	2029	0.8485714286	0.16	0	0	1	0	0	0	2.73125
51	2030	0.8485714286	0.16	0	0	1	0	0	0	2.73125
52	2031	0.8485714286	0.16	0	0	1	0	0	0	2.73125
53	2032	0.8485714286	0.16	0	0	1	0	0	52.9	2.73125
54	2033	0.8485714286	0.16	0	0	1	0	0		2.73125
55	2034	0.8485714286	0.16	0	0	1	0	0		2.73125
56	2035	0.8485714286	0.16	0	0	1	0	0		2.73125
57	2036	0.8485714286	0.16	0	0	1	0	0		2.73125
58	2037	0.8485714286	0.16	0	0	1	0	0		2.73125
59	2038	0.8485714286	0.16	0	0	1	0	0		2.73125
60	2039	0.8485714286	0.16	0	0	1	0	0		2.73125
61	2040	0.8485714286	0.16	0	0	1	0	0		2.73125
62	2041	0.8485714286	0.16	0	0	1	0	0		2.73125
63	2042	0.8485714286	0.16	0	3.3	1	4.2	1		2.73125
64	2043	0.8485714286	0.16	0		1
65	2044	0.8485714286	0.16	0		1
66	2045	0.8485714286	0.16	0		1
67	2046	0.8485714286	0.16	0		1
68	2047	0.8485714286	0.16	5.9		1
69	2048	0.8485714286	0.16
70	2049	0.8485714286	0.16
71	2050	0.8485714286	0.16
72	2051	0.8485714286	0.16
73	2052	0.8485714286	0.16
74	2053	0.8485714286
75	2054	0.8485714286
76	2055	0.8485714286
77	2056	0.8485714286
78	2057	0.8485714286
79	2058
80	2059
81	2060
82
83
84	Principal outstanding
85	2013	29.70	4.80	5.90	3.30	25.00	4.20	1.00	52.90	43.70
86	2014	29.70	4.80	5.90	3.30	25.00	4.20	1.00	52.90	43.70
87	2015	29.70	4.80	5.90	3.30	25.00	4.20	1.00	52.90	43.70
88	2016	29.70	4.80	5.90	3.30	25.00	4.20	1.00	52.90	43.70
89	2017	29.70	4.80	5.90	3.30	25.00	4.20	1.00	52.90	43.70
90	2018	29.70	4.80	5.90	3.30	25.00	4.20	1.00	52.90	43.70
91	2019	29.70	4.80	5.90	3.30	25.00	4.20	1.00	52.90	43.70
92	2020	29.70	4.80	5.90	3.30	25.00	4.20	1.00	52.90	43.70
93	2021	29.70	4.80	5.90	3.30	25.00	4.20	1.00	52.90	43.70
94	2022	29.70	4.80	5.90	3.30	25.00	4.20	1.00	52.90	43.70
95	2023	28.85	4.64	5.90	3.30	24.00	4.20	1.00	52.90	43.70
96	2024	28.00	4.48	5.90	3.30	23.00	4.20	1.00	52.90	43.70
97	2025	27.15	4.32	5.90	3.30	22.00	4.20	1.00	52.90	43.70
98	2026	26.31	4.16	5.90	3.30	21.00	4.20	1.00	52.90	43.70
99	2027	25.46	4.00	5.90	3.30	20.00	4.20	1.00	52.90	40.97
100	2028	24.61	3.84	5.90	3.30	19.00	4.20	1.00	52.90	38.24