Greece Extends Its Bond Buyback Offers For A Day And A Half

Greece Extends Its Bond Buyback Offers For A Day And A Half

Greek Public Debt Management Agency (PDMA) said on Monday it will extend its bond buyback, which was supposed to expire on Friday, for a day and a half to offer more discounted-price bonds to complete its target of getting a face vale of 30 billion euros.

Newspaper Ta Nea said earlier on Monday that Greece had sold 26-27 billion euros in offers, 10 billion euros from Greek banks and 16 billion euros from foreign investors, and hence looking for an extra 3 or 4 billion euros to reach its targeted level.

A Greek official said his country is close to reaching its target in a buyback of sovereign debt.

It is worthwhile to mention that the Greek debt buyback is a part of some measures announced by euro area finance ministers during their previous meeting to lower the country`s debt to 124% of GDP by 2020, where it is a condition needed to release Greece’s 34.4 billion-euro disbursement on Dec. 13.