Greece Plans to Retire $41.5 Billion of Debt in Buyback
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Greece plans to repurchase government bonds with a face value of 31.9 billion euros ($41.5 billion) from private investors including its own banks to free up aid for the cash-strapped country.
Greece will pay an average weighted price of 33.8 percent of face value for government bonds maturing from 2023 to 2042 after agreeing to pay the maximum price from the range it had indicated for each bond, the Athens-based Public Debt Management Agency said in a statement on its website today. The buyback offer began Dec. 3 and ran until noon London time yesterday.