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Rhode Island Firm to open bid for ..outstanding Greek debt

A private investor has announced a tender in order to buy less than 9.9% of all Greek bonds. “Japonica Partners & Co. announces an invitation by its indirect wholly-owned subsidiary Yerusalem Hesed, Ltd.  for eligible holders of certain series of bonds issued by Greece in 2012 to sell the bonds for cash. The amount to be purchased will be up to €2.9 billion in face value which represents less than 9.9% of the total outstanding €29.6 billion of Greece government bonds. The purchase of the bonds by the acquirer would permit existing holders to monetize their Greece government bonds.” said the firm in a statement.

According to BusinessInsider, Japonica Partners was founded in the late 80’s by former Goldman Sachs banker, investor, financier and philathropist  Paul Kazarian.

Rhode Island Based Firm Announces Bid For Massive Amount Of Outstanding Greek Debt

A firm called Japonica Partners has announced a tender offer for 10% of all Greek government bonds.

FT Alphaville reports that the firm, which is based in Rhode Island, was founded in the late 80s by former Goldman banker Paul Kazarian.

Full statement here and here.

According to Capital.gr Greek bank treasurers express reservations about the success of the bid.

PS Who are these people? Why do they want to buy Greek bond? I can’t comment on things I don’t understand….

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One comment

  1. I can’t comment on things I don’t understand….

    that is the whole idea. These transactions, the subjects of these transaction have been made so incomprehensible and difficult that I sometimes doubt these guys understand any of it themselves, so what chance to you and I have?
    But, if they do understand and you and I don’t, they can do what they like. The bottom line is however very predictable. If they make a profit, it will be huge and they pocket it. If they make a loss, it will also be huge, and you and I end up paying for it. As we are all finding out the hard way.
    With a pedigree as the one stated in in the article, GS, I would not trust this guy and his company a far as I could throw them…