As part of any overall agreement, Greece's existing debts will be renegotiated and rolled over into new bonds.

Unable to service its existing debts, Hearst Corporation faced a court-mandated reorganization in 1937.

Proceeds from a microloan cannot be used to pay existing debts or to purchase real estate.

In fact, the next step after Madrid should be an international conference to reduce Iraq's existing debts.

The other is the remarkable fact that Orange County can still borrow money while it is trying to default on its existing debts.

Indeed, the only reason Italy continues to borrow at all is to meet the principal and interest payments on its existing debts.

"We need to pay down some existing debts, to do our capital financing on a pay-as-you-go basis and to put more down for the future."

With that, he would repay Nabisco Holdings' existing debt, which is about $3.6 billion.

The purpose of the loan is to establish or develop a business, and not to repay any existing debts or other loans.

And 75 percent of the borrowers were refinancing existing debts; the rest were buying a home.