Wednesday, 22 February 2012 00:16
ATHENS: Greece will activate collective action clauses (CACs) forcing investors to take part in a bond swap next month at a threshold of 66 percent participation in the process, a government minister who declined to be named said on Tuesday.
"It will be 66 percent," the minister told Reuters of the threshold level of a debt swap under which private holders will take a write-down of 53.5 percent of the nominal value of their bonds, as part of a 130-billion-euro bailout agreed by euro zone ministers earlier in Brussels.
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