BUSINESS

Greece calls private bondholders to swap 20 old bonds with five new ones

TAGS: Finance, Markets

Greece on Wednesday invited private holders of about 30 billion euros in Greek debt to swap 20 small bonds for five new ones to boost its market liquidity before it emerges from bailouts in August 2018.

The country has been kept afloat with rescue funds since 2010 and is anxious to draw a line under financial upheaval next year and be able to service debt itself.

The new bonds would have maturities of 5, 10, 15, 17 and 25 years, the Public Debt Management Agency said. The move would smooth out maturities and add depth to a currently shallow market. [Reuters]

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