Greek Swap Participation at 39%

Investors holding $106 bln of Greek bonds have agreed to swap.

Investors with holdings amounting to 39.3 percent of the Greek bonds eligible for the nation’s debt swap agreed to sign on, moving the country closer to the biggest sovereign restructuring in history.

The 30 members of the private creditor-investor committee for Greece who plan to participate in the swap hold an aggregate 81 billion euros ($106 billion) of bonds, according to an e-mailed statement from the Institute of International Finance today. The offer ends at 8 p.m. Athens time tomorrow.

‘Turning Point’

The members of the IIF creditor-investor committee who agreed to participate are Ageas, Allianz SE, Alpha Bank SA, Axa SA, La Banque Postale, Banco Bilbao Vizcaya Argentaria SA, BNP Paribas SA, CNP Assurances SA, Commerzbank AG, Credit Agricole SA, Credit Foncier, Dekabank Deutsche Girozentrale, Deutsche Bank AG, Dexia SA, Emporiki Bank of Greece SA, Eurobank EFG, Assicurazioni Generali SpA, Greylock Capital Management, Groupama SA, HSBC Holdings Plc, ING Bank, Intesa Sanpaolo SpA, KBC Groep NV, Marfin Popular Bank Plc, Metlife Inc., National Bank of Greece SA, Piraeus Bank SA, Royal Bank of Scotland Group Plc, Societe Generale SA and Unicredit SpA.

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