February 21, 2012 / 12:47 PM / 8 years ago

Threshold for forced Greek debt swap is 66 percent: minister

ATHENS (Reuters) - 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.

Reporting by George Georgiopoulos; writing by Mark John

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