Greece to Buy Back Some of Its Bonds

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By Trey Thoelcke Published

greek flagGreece’s leadership said the nation would try to buy back 10 billion euros worth of its bonds in the public markets as a way to lower its borrowing costs. The number is relatively small compared to Greece’s overall sovereign obligations, but the move would be a start. And, if this first foray works, it will show that capital markets might support other similar deals in the future. The Wall Street Journal reports:

Greek government bonds after the announcement rose sharply to their highest levels since the debt restructuring in March as the stated buyback prices were much higher than some investors had expected.

The price of the 2023 Greek bond rose to 39.88 cents to a euro, pushing the yield on the bond 1.5 percentage point below Friday’s close at 14.43%, the lowest level since March. The price of the 2042 bond climbed to 31.43 cents to a euro for a yield of 11.58%, down 0.81 percentage point.

Douglas A. McIntyre

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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