Greece completes exchange of bonds under Greek law
2012-03-12 17:27:52
Greece has completed an exchange of its bonds with private investors issued under Greek law, part of the country's debt, world media reported on Monday.
The operation was completed after the Bank of Greece sent an official list of new bonds to credit institutions. The exchanged bonds were worth of total 177 billion euros.
The investors, who owned 85.8 percent of the bond package, agreed to write off up to 75 percent of country's debt voluntarily but the Greek government adopted enforcement measures and increased investors' share in the package up to 95.7 percent.