Greece Asks Investors to Swap Debt in Biggest Restructuring
This article is for subscribers only.
Greece’s government formally asked investors to exchange their holdings of government debt for new securities in the biggest sovereign restructuring in history.
“The Ministerial Council of the Hellenic Republic today approved the terms of invitations to be made to private sector holders,” the Ministry of Finance said in a statement yesterday on a website set up for the exchange. The bonds subject to the invitation had a total face value of about 206 billion euros ($277 billion).