Greece signals £25bn bonds buyback

Updated
Christine Lagarde
Christine Lagarde

Greece will buy back 31.9 billion euro (£25.7 billion) of its bonds from private investors at a third of their nominal price, in a move to lighten its crushing debt load and meet a key condition to receive vital rescue loans.


The Greek debt agency said it would pay banks, funds and other private bondholders roughly 33.8% of the bonds' face value. That is still a highly attractive option, as the bonds have been trading well below face value since a major debt writedown in March.
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