Greece offers to exchange, buy out outstanding government bonds – Reuters

ATHENS, Dec 6 (Reuters) – Greece on Monday offered to buy out for cash or exchange outstanding government bonds expiring in 2023 to 2042, with new issues, its debt agency said.

The purpose of the offer is to normalise Greece’s bond yield curve and supply the market with benchmark bonds that will be more liquid than the outstanding ones to be exchanged.

The offer expires at 17:00 central European time on Dec. 10 and the expected settlement date is Dec. 17.

Greece is offering to exchange outstanding bonds maturing from 2023 through to 2042, with new issues of 2% bonds expiring in April 2027, 3.9% bonds maturing in 2033, 4.0% bonds in 2037 and 4.2% bonds in 2042.

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Reporting by George Georgiopoulos, editing by Ed Osmond

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