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EURO GOVT-Greek bonds rally after debt buyback announcement
December 3, 2012 / 8:41 AM / 5 years ago

EURO GOVT-Greek bonds rally after debt buyback announcement

LONDON, Dec 3 (Reuters) - Greek government bond prices rallied sharply on Monday after the announcement of details of its debt buy-back -- a central part of a deal to release aid funds to the debt-stricken country.

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.

Bond prices rose across the strip, with the price of the 2023 bond up 2.675 to 37.867 -- a move equivalent to a drop in yield of more than 1 percentage point.

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