In an environment, post-crisis, of bank lending scarcity and tighter credit standards, businesses have sought to cover their financing needs through alternative types of external financing, in addition to their own resources. These alternative types included non-bank loans, i.e. loans from domestic financial institutions other than banks, as well as foreign borrowing, mostly intragroup loans and corporate bonds issued on international markets.
They also raised unlisted equity financing, while particularly muted was the domestic issuance of corporate bonds € million in 2017) and listed shares. Improved economic conditions helped Greek businesses with positive growth prospects to regain access to international markets, with bond issuance coming to € billion in 2017, relatively more moderate compared with € billion in 2012–2014.