ECONOMY

Greece to extend bond swap maturities beyond 2020, Venizelos says

Greece will extend the terms of a bond swap offer to include government debt maturing after 2020, in a bid to reach a participation target of 135 billion euros, Finance Minister Evangelos Venizelos said on Wednesday.

“Our aim is to have 90 percent participation for this, or 135 billion euros,» Venizelos told Greek radio.

“We still need to identify bonds worth 150 billion euros maturing by 2020, or a bit later than 2020, in order for this amount…to be gathered.”

The minister also said that deposits had started to return to Greek banks from late July, easing the pressure on lenders’ funding base. [Reuters]