Greek pension funds to take up debt swap offer

ATHENS: Greek pension funds holding bonds worth about 6 billion euros will participate in a debt swap announced by the country on Wednesday, a central bank official told Reuters.

The Bank of Greece manages a big part of Greek pension funds' assets.

Greece has invited private bondholders - holders of debt issued in 2012 in a haircut scheme - to trade them in for 5 new benchmark ones. The cut off date for the offer, which is voluntary, is Nov. 28.