News Briefs

  Adar 15, 5772 , 09/03/12

Greece: Creditors Agree to Bond Swap

Greek officials announced Friday that 85.8% of the country’s private lenders have agreed to a proposed bond swap. If fewer than 75% had agreed, the country would have been forced to declare bankruptcy.

Investors may face losses of up to 74% in the deal. Holders of Greek bonds who did not accept the offer may be forced to go along with it due to collective action clauses.

Other archived news briefs:Mar 09 2012, 09:31 AM, 3/9/2012