Investing

Greek Bond Holders May Face 70% Lose

After weeks of back and forth between Greece and private investors represented by the IIF, a deal for the private investors to participate in a restructuring of the nations paper may be near. And, the results for private investors will be catastrophic. EU…

By Douglas A. McIntyre
Published February 1, 2012, 6:22am ET · 1 min read

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After weeks of back and forth between Greece and private investors represented by the IIF, a deal for the private investors to participate in a restructuring of the nations paper may be near. And, the results for private investors will be catastrophic. EU nations have pressed for the bondholders to take yield on new paper at a 3% or so level. The investors have pressed for 4%. The threat, of course, is that EU nations will not help Greece, and the private investors will get nothing.

According to Bloomberg

Investors participating in a deal to slash Greece’s massive debt would face an overall loss on their bond holdings of more than 70 percent, a person involved in with the negotiations said early Tuesday.

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Douglas A. McIntyre

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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