ATHENS Dec 3 Greece on Monday said it would
conduct its bond buyback offer through a modified Dutch auction
method in which investors declare how much they are willing to
sell their bonds at before the price is determined.
Greece set a minimum price range of 30.2 to 38.1 percent and
a maximum price range of 32.2 to 40.1 percent depending on the
bond maturities on the 20 series of outstanding bonds.
Athens said it would not spend more than 10 billion euros on
the buyback. Investors must declare their interest by Dec. 7 and
the expected settlement date is Dec. 17. The bond buyback is
crucial to Greece's efforts to unlock aid to keep afloat.