ATHENS: Greece on Thursday set the pricing on its offer to top up its recent three- and five-year bonds by about 1 billion euros (US$1.3 billion) and exchange them for outstanding T-bills instead of cash.
Holders of T-bills maturing between Sept.19 2014 to March 6, 2015 can exchange them for three-year bonds due in 2017 at exchange ratios of 99.340339 to 98.813836 percent, it said in a bourse filing.
T-bill holders of the above maturities can also exchange the short-term paper for five-year bonds due in 2019 at exchange ratios of 95.805554 to 95.297785 percent.
The offer starts at 0600 London time (0500 GMT) on Thursday and expires at 1700 (1600 GMT). Alpha Bank, Eurobank, National Bank and Piraeus Bank are the dealer managers. Settlement is expected on Sept. 16.
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