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
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….