Private Holders of Greek Debt Should Reject Swap Offer, DSW Says
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Private investors in Greek government bonds should reject a voluntary swap offer aimed at reducing the country’s debt load, according to German private investor lobby group DSW.
“We advise investors in securities with short maturities in particular not to accept the offer,” Marc Tuengler, DSW’s managing director, said in an e-mailed statement today. “As the new bonds have maturities of 30 years, investors with bonds that mature in 2012 would face an even higher loss” than the 53.5 percent cut agreed in the debt swap with Greece, he said.