Friday September 19, 2014 Search
Weather | Athens
27o C
19o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Big gains for hedge funds from bonds

By Ilias Bellos

Investment funds are eyeing the plan for Greece to be lent money to buy back the bonds it issued as part of the debt restructuring program, known as the Private Sector Involvement (PSI), in March.

In total the new Greek bonds issued after the PSI have a nominal value of 62 billion euros, of which some 15 billion are now in the hands of hedge funds. The latter bought the new bonds at prices that were considerably lower than the current ones, intending to sell them for a profit ahead of the bond buyback scheme under discussion being put in place.

Investment funds intensified their Greek bond buying at the end of June, when the new government debt had a price of 14.26 cents per euro. Today they are traded on the secondary market at a level of 26 cents per euro, which is more than a 100 percent increase within six months, as the price they had at the end of May, when the country was suffering from a huge political uncertainty between two general elections, had been 12.90 cents/euro.

ekathimerini.com , Sunday November 25, 2012 (21:02)  
Cyprus civil servants strike called off
Bank of Cyprus to sell UK loan portfolio
Elliniko investors eye Cyprus project warily
Auctions lead to surprise stock growth
Mayors resisting evaluation to face disciplinary action
Mayors and municipal employees who refuse to take part in a civil service evaluation scheme the government has undertaken as part of commitments to international creditors will face discipli...
Fyssas rally demonstrators face prosecutor after clashes
Sixty-four people arrested in Keratsini, a suburb of Piraeus, on Thursday, following clashes with police during an anti-racist march marking the one-year anniversary of the murder of rapper ...
Inside News
SOCCER
Triumph for PAOK, historic result for Asteras in Europa League
Greek teams produced a patchy record on the opening night of the Europa League group stage on Thursday, as PAOK thrashed Dynamo Minsk, Asteras Tripolis snatched a draw at Besiktas and Panath...
SOCCER
Financial crisis forces Greek second division postponement
Greece's second soccer division Football League announced on Wednesday the postponement of the start of the season due to financial difficulties being faced by most clubs. "The board of dire...
Inside Sports
COMMENTARY
High stakes after the Scottish vote
We will soon know whether the Scots voted for their countrys independence or whether they will remain citizens of the United Kingdom of Great Britain and Northern Ireland. What was alread...
EDITORIAL
Breathing room
Even Greeces biggest critics find it hard to deny that the debt-hit country has achieved an unprecedented fiscal turnaround within a very short period of time. Sure, progress in promoting t...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Mayors resisting evaluation to face disciplinary action
2. Fyssas rally demonstrators face prosecutor after clashes
3. PM in energy talks ahead of crucial meeting with Merkel
4. Attiki Odos Lamia exit to close Sunday
5. Young offenders get stipend for TEI admission
6. SYRIZA MPs want Lagarde to testify in connection with list probe
more news
Today
This Week
1. Dozens of arrests at march to mark anniversary of Fyssas murder
2. EIB signs deals with Greece for 815-mln investment in infrastructure projects
3. Syntagma metro station to close for Fyssas tribute concert
4. Samaras heads to Azerbaijan for two-day visit
5. ECB eyes banks capital quality as target for supervisory power
6. Hardouvelis signals Greece may skip IMF loans to exit aid curbs
Today
This Week
1. Greece on standby
2. Greece at bottom of social justice scale among EU28
3. Central Athens traffic restrictions back in force on Monday
4. Lost in the fog
5. Democracy under Pressure | Live Streaming
6. SYRIZA spokesman suggests gov't sought to stop NERIT airing Tsipras speech live
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.