A Greek bond offer hangs around even longer

Did you forget that Japonica’s offer to buy up a huge chunk of the Greek bond market still exists?

It might be easy to. They’ve just extended the deadline again by another month.

For holders tendering at a 15 percent to 20 percent large block illiquidity discount to observed bid-ask midpoint prices, the Acquirer reserved the right to reimburse up to 50 percent of the cost of independent fairness opinions. These fairness opinions specify the range of the double discount in the current market and are an industry best practice. The double discount includes the discounts for large blocks of fixed income securities and for highly illiquid fixed income securities.