Greek debt swap take-up neared 95 pct before deadline

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cuuvette350

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Greek debt swap take-up neared 95 pct before deadline

in response to

Re: SEDI - Joanne McDonald

Orcinus

posted on Mar 08, 2012 06:03PM

http://in.reuters.com/article/2012/03/08/greece-swap-idINDEE8270GK20120308

(Reuters) - Nearly 95 percent of bondholders had signed up for a debt swap to lighten Greece's debt burden an hour before the 2000 GMT deadline expired, a senior Greek government official said on Thursday.

"About an hour before the deadline expired, the participation rate was nearing 95 percent and responses were still coming in," a Greek government official told Reuters.

That meant Greece had easily topped the 90 percent target for participation it had set itself, in a major boost for the debt-stricken country.