U.S. Firm Offers to Buy 10% of Greek Govt Bonds
Thursday, 01 January 1970
U.S. investment firm Japonica Partners placed a tender offer to buy 10% of all outstanding Greek government bonds, Reuters reported.
Japonica Partners placed an offer up to 2.9 billion euro ($3.8 billion) in face value of Greece's bonds, Reuters said.
Japonica set a minimum purchase price of 45% of face value and would determine the price through an unmodified Dutch auction, under which investors can specify the price they are willing to pay.
That offer is far below current market prices for Greek bonds, Reuters added.