I hadn't thought ofthat with the discount on the deferred margin...

I hadn't thought ofthat with the discount on the deferred margin as technically they do not have to pay it until 30 June 2014 and therefore paying it now should attract some sort of discount. They do have to pay a 1% penalty on any loans repaid early so that would be easily offset by the discount on the deferred margin.

I would imagine the lenders would prefer their money back sooner rather than later. I am sure something can be cobbled together as long as the Greece thing does not sink the markets.