Monday April 27, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece extends deadline for bond buyback until Tuesday

Greece has extended until noon on Tuesday the deadline for bondholders to take part in the buyback without revealing further details about the rate of participation so far.

The deadline had expired on Friday evening but the Public Debt Management Agency (PDMA) said in a statement on Monday morning that the new deadline would now be noon (London time) on December 11.

The PDMA added that the changing of the deadline would not allow investors who have already submitted their bonds for the buyback to withdraw from the process.

“We have decided to extend the Invitation to offer designated securities for exchange to 11 December 2012,” said Stelios Papodopoulos, the head of PDMA.

“Holders that have not tendered so far can still take advantage of the liquidity opportunity offered by the Invitation. Investors should bear in mind that even if Greece accepts all bonds tendered in the Invitation, it will continue to engage with its official sector creditors in considering further steps to put its debt on a sustainable path, he added.

"Future measures may not involve an opportunity to exit investments in designated securities at the levels offered for this buy back.”

The PDMA said that the settlement date for any investors taking part in the buyback would be Tuesday, December 18.

Greece has set a price range of between 30.2 and 40.1 percent of the principal amount for any bonds submitted by investors.

Despite the fact that Finance Ministry sources said on Saturday the target of collecting about 30 billion euros’ worth of offers for the buyback had been achieved, an extension to the deadline could allow more investors to come forward.

It is thought that hedge funds offered about 15 to 16 billion euros of Greek paper by the Friday deadline, while local banks will contribute up to 16 billion euros.

This would allow Greece to spend about 10 billion euros to buy back 30 billion euros’ worth of bonds, reducing its debt by 20 billion.

ekathimerini.com , Monday December 10, 2012 (10:03)  
Anastasiades says Akinci win raises hopes for reunification
Berlin silent on content of Merkel-Tsipras chat amid claims of ´dramatic´ situation
Two Greeks in quake-stricken Nepal reported safe
Anastasiades, Akinci speak and look towards fresh push in peace talks
European shares fall, Greek concerns weigh
European shares edged lower in early trading on Monday, with lingering concerns over Greece's debt situation prompting investors to trade cautiously at the start of a new week. German Financ...
Greek yields rise after creditors give Athens cold shoulder
Greek bond yields edged higher on Monday as investors reacted to fruitless debt relief talks between euro zone finance ministers on Friday which only served to highlight the gulf between Ath...
Inside Business
SOCCER
Panathinaikos beats Xanthi to rise to second
Panathinaikos jumped back up to the second spot of the Super League after its home win over Xanthi on Saturday, as PAOK slumped to third due to its draw at home with PAS Giannina on Sunday. ...
WATER POLO
Olympiakos wins Euro crown in women´s water polo
The women’s water polo team of Olympiakos won its first ever LEN Euro League at the Final Four it hosted in Piraeus by beating holder Sabadell from Spain 10-9 in Saturday’s final. After defe...
Inside Sports
ANALYSIS
If Greece falls, no one wants their prints on the murder weapon
«We're going bust.» «No, you're not.» «You're strangling us.» «No we're not.» «You owe us for World War Two.» «We gave already." The game of chicken between Greece and its international cred...
COMMENTARY
Reaching crunch time
Several cabinet ministers and MPs are no longer hiding it: They either openly admit that they are promoting the drachma or they murmur things like, “Why not the drachma?” Some go even furthe...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Anastasiades says Akinci win raises hopes for reunification
2. European shares fall, Greek concerns weigh
3. Greek yields rise after creditors give Athens cold shoulder
4. Berlin silent on content of Merkel-Tsipras chat amid claims of ´dramatic´ situation
5. Two Greeks in quake-stricken Nepal reported safe
6. ECB seen going all the way on QE as economists doubt taper
more news
Today
This Week
1. Greece’s day of reckoning inches closer as debt payments loom
2. Pensions will not be cut, insists social insurance chief
3. Anastasiades, Akinci speak and look towards fresh push in peace talks
4. ECB seen going all the way on QE as economists doubt taper
5. Berlin silent on content of Merkel-Tsipras chat amid claims of 'dramatic' situation
6. Two Greeks in quake-stricken Nepal reported safe
Today
This Week
1. Greek government's popularity takes a hit as talks drag on
2. Europe's collision course with Greece
3. It's up to the Greek government to ensure deal with lenders, says ECB's Coeure
4. Leaving the past in the past
5. Denialism
6. The price of compromise
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.