Investment Firm Japonica Partners Says is One of Largest Holders of Greek Debt

Investment Firm Japonica Partners Says is One of Largest Holders of Greek Debt

U.S.-based Investment firm Japonica Partners said on Thursday it was one of the largest owners of the bonds, Reuters reported.
Japonica launched a tender offer to buy up to 2.9 billion euro in face value of Greek bonds - about 10% of Greece’s outstanding debt - which it raised to 4 billion euro ($5.45 billion) in July, Reuters said.
The investor believes the bonds are "massively undervalued" and worthy of an investment grade credit rating, it added.
The 15-year Greek government bond is currently trading at around 50 cents on the euro, compared to 40 cents minimum purchase price offered by Japonica.

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