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Monday, December 3, 2012

Greece launches bond buyback offer, tops expectations

Employees are seen working in their offices in the building housing Greece's finance and development ministries in AthensATHENS (Reuters) - Greece said it would spend 10 billion euros to buy back bonds in a bid to reduce its ballooning debt and unfreeze long-delayed aid, setting a price range above market expectations to ensure sufficient investor interest. The bond buyback is central to the efforts of Greece's foreign lenders to put the near-bankrupt country's debt back on a sustainable footing, and its success is essential to unlocking funding Athens needs to avoid running out of cash. ...



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