Repurchase of Greek bonds extended until Tuesday

The Public Debt Management Agency said it is giving a second chance to attract more bondholders to the Greek bond buyback program until tomorrow, Tuesday, December 11 at 2 pm local time.

The registration deadline for candidates who accept an offer by the Greek government ended formally on Friday afternoon after the assessment but the Finance ministry, in consultation with the Troika, announced on Monday that it has decided to re-open the book of offers, clarifying however that the bondholders who already submitted an application for this repurchase program by Friday may not revoke or amend the terms of their participation.

The Finance ministry did this to increase the state bonds for purchase to at least 30 billion and more, at one third of their nominal value.

PDMA: You will never get another chance

PDMA chief Stelios Papadopoulos said "we have decided to extend the invitation for the exchange until December 11, 2012. Holders who have not placed a bid can take up this liquidity offer. Investors should keep in mind that even if Greece accepts all offered bonds, it will continue to work with the official creditors and consider further steps to put its debt on a sustainable path. Future measures do not include another opportunity of investment from bonds at the price levels offered under this repurchase."