Greek bond buyback debacle

clock •

GREECE - JPMorgan and North Asset Management have said they would be prepared to buy back all €280m of the structured bonds which were overpriced by €5m and sold to the Greek government pension scheme.

The announcement came following widespread calls for the institutions involved to buy the bonds back. JPMorgan had acted as underwriter of the bond issue and sold it to North Asset Management. ...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Greece

Greece

Greece says 'yes' to austerity package

GREECE - The Greek parliament has narrowly voted to approve a drastic austerity package despite facing widespread opposition.

Nick Paler
clock 29 June 2011 •
Greece

Greece to sell bills as two-year yield tops 20%

GREECE - Greece plans to sell €1.25bn ($1.78bn) of 13-week Treasury bills today as growing speculation the country will need to restructure its debt pushed bond yields to euro-era records.

Maria Petrakis and Natalie Weeks at Bloomberg News
clock 19 April 2011 •
Greece

OTE told to pay €130m pension costs

GREECE - Greek telecom operator Hellenic Telecommunications Organisation (OTE) has said it will have to book a €129.8m ($179m) pensions cost charge to its 2010 accounts following an actuarial study by the Greek government.

Chris Panteli
clock 02 February 2011 •
Trustpilot