BUSINESS

Juncker: Greece extends foreign law bond-swap period

Greece has extended the offer period for the exchange of bonds governed by foreign law in its debt swap, the president of the Eurogroup of eurozone finance ministers said on Friday.

"The Greek authorities have announced that they have extended until April 4 the offer period for bonds governed by foreign law and eligible for the exchange. This decision was taken with a view to provide bondholders a further opportunity to tender their holdings of eligible foreign-law bonds in the exchange,» Eurogroup chief Jean-Claude Juncker said.

"We have been informed that a failure to make timely payment of Greece's eligible foreign law bonds that are not exchanged does not constitute an event of default under Greece's new bonds issued in the exchange,» he added in a statement. [Reuters]

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