Greek Bonds Valued at 21.75%

Auction results indicate CDS sellers to pay 78.25 cents on the euro.

Sellers of credit-default swaps on Greece may have to pay 78.25 cents on the euro to settle contracts triggered by the nation’s debt restructuring.

Dealers set an initial value of 21.75 percent at an auction for Greek bonds today, according to administrators Markit Group Ltd. and Creditex Group Inc. The auction is being held under the rules of the International Swaps & Derivatives Association and a final rate will be determined at 3:30 p.m. in London.

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